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Originally posted by Schoolin' Life
How about logic? $130 max for a ticket yet her average is $116 ? When her tickets go as low as $29.50? How many $85, $50.50, $29.50 she could sell to achieve that out of 13.5k? 1k in total? Doesn't make sense... AT ALL
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It's the spread.
Let's do some maths:
- 5% of tickets sold at $29.50, 5% sold at $50.50 and 10% sold at $85 => 20% at $62.5 average
- 20% at $62.5 and 80% at $130 => $116.5 average ticket price
80% of the tickets in the highest price category seems too high for me.
There is one hidden factor.
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Katy Perry Reserves the Right to Scalp Her Own Tickets
The Smoking Gun has uncovered Katy Perry's concert rider, and, along with the standard bits of ridiculousness (French ornate-style floor lamps, white and purple hydrangeas, no eye contact from chauffeurs, etc.), there's an unexpectedly troubling bit of information. Apparently, Perry and her team reserve the right to hold back concert tickets from sale to the general public in order to move them on the secondary market. In legalese:
If Company elects to use "Resellers", Promoters shall hold tickets for each Performance, in quantities and in locations as designated by the Personal Manager, for distribution to the public through "Resellers". "Resellers" shall mean any ticket agency, ticket re-seller or other so-called "secondary market" seller of tickets (such as, by way of example only, StubHub in the United States) who sell tickets to the general public. Promoter expressly acknowledges and agrees that Company shall be entitled to retain, for Company's sole account, such portion of the proceeds from sales by Resellers.
Or, in other words: Katy scalps her own tickets. On the one hand, even the live music industry isn't what it used to be, and if Perry has to shift some tickets at inflated prices to make ends meet, is that so bad? On the other, this is exactly the accusation people were making against LCD Soundsystem during their finale-shows fiasco — an accusation the band vehemently denied. So, KP fans: If you feel like being outraged about this, please go right ahead.
http://www.vulture.com/2011/05/katy_...the_right.html
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Quote:
A very small percentage of seats are available to purchase during the initial general sale.
"Before that time a lot of artists have committed their ticket inventory to credit card companies they have alliances with, to their fan clubs for pre-sale, to the promoter who has a variety of opportunities, to sponsors and to the venue," explains Budnick. "Plus they also keep some inventory for themselves and the secondary market (more on this to come)."
At Justin Bieber's Nashville show in February, only seven per cent of tickets to the show were available to purchase at the general sale, meaning 93 per cent of tickets had already been set aside for other partners.
At Taylor Swift's US concerts, just 15 per cent of tickets were available at the advertised on-sale date. For Miley Cyrus' Hannah Montana tour, the numbers were similar, about 15 to 20 per cent.
[...]
What is a "secondary market"?
The "secondary market" is a term given to the online re-sale platforms such as eBay, Gumtree and StubHub in the US which allow people (or scalpers) to re-sell tickets they have already purchased.
"Because of these secondary markets there are so many people who are aggressively competing online for tickets," says Budnick. "Some are professional ticket brokers and scalpers who know how much tickets to the really hot shows are worth. Others are mums, dads or uni students trying to make a bit of extra money."
Budnick says artists are now even scalping their own tickets by keeping a number and re-selling them to these online platforms for inflated prices.
Artists now realise the profit that can be made on places like eBay and so as a result, they demand a certain allotment of tickets in their riders which they are then able to directly on-sell on the secondary market.
"Katy Perry is known to do this," says Budnick. "Let's say her tickets go on sale for $100 and then two hours later they sell for $200 - that gets pretty frustrating for the artists' manager and to the artist, so they want a taste, too.
"The way one of the managers described it to me was 'look, somebody is sitting in front of this computer, smoking a cigar who is not involved at all in this show, he's just sitting there making all this money off us, we deserve a little bit of that money." http://www.news.com.au/entertainment...-1226634119343
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I see a certain venue with their own custom made ticket selling website, showing 10 unavailable sections in the lower bowl
(on sale and sold out has different colours). Those sections can be VIP packages, platinum tickets, premium tickets or put by her team on stubhub.
This means a lot of those $130, $85 and even the $50.50 tickets are inflated with $100 or more for platinum ticket status, VIP package status or plain old scalping on secundary market. I wouldn't be surprised that a lot of Kats paid $200 or more for a ticket with face value $130, $85 or $50.50. My most expensive PWT ticket is $273 or $244 before charges.
It works both ways: When your ticket price on secundary market collapse to $6, it also affects your tour gross for the tickets your team put on stubhub, getmein,...
