Ticketmaster is widely known as one of the leading platforms for purchasing event tickets, offering a convenient and reliable way for people to secure their spot at concerts, sports games, theater shows, and other live performances. However, a commonly debated topic revolves around the pricing of resale tickets on Ticketmaster. Many wonder whether these resale tickets are more expensive compared to the original face value price. It’s important to note that Ticketmaster often adds a service fee, also known as a convenience charge, to the face value price of each ticket. This same fee is applicable to resale tickets, but it may also vary depending on the specific event and the agreement between Ticketmaster and it’s clients. This practice has sparked discussions and debates among consumers, with some questioning the fairness and transparency of Ticketmaster's pricing structure.
What Does It Mean to Buy Resale Tickets on Ticketmaster?
When purchasing resale tickets on Ticketmaster, it means that you’re buying tickets that are being sold by fans, season ticket holders, or professional ticket brokers, rather than directly from the event organizer or venue. These tickets are clearly identified as resale tickets, either through a distinct color code or through a specific description.
It allows individuals who arent able to attend an event anymore to resell their tickets to someone else who can. This can be beneficial for both the seller and the buyer, as it provides flexibility and options.
The list price of a resale ticket is determined by the seller and may sometimes be higher or lower than the face value of the ticket. Sellers may choose to price their resale tickets higher if they believe there’s high demand for the event or if they want to make a profit. Conversely, they may offer tickets at a lower price if they’re unable to attend the event and just want to recoup some of their costs.
It’s important for buyers to carefully review the details of the resale tickets they’re interested in before making a purchase. Factors to consider include the location of the seats, any additional fees or charges, and any specific terms or restrictions that may apply.
It offers a platform for fans to sell their tickets and allows other fans to still attend the event even if the first round of tickets has sold out. With clear identification and the support of Ticketmaster, fans can feel confident in their purchase of resale tickets and look forward to enjoying their favorite events.
Benefits of Buying Resale Tickets on Ticketmaster
When it comes to purchasing tickets for concerts, sporting events, or other live performances, buying resale tickets on Ticketmaster can provide several advantages. Resale tickets are typically sold by fans who’ve already purchased them but are unable to attend the event. These tickets come with various benefits such as:
1. Authenticity: Ticketmaster guarantees the authenticity of resale tickets, ensuring that you won’t fall victim to counterfeit or fraudulent tickets. This helps to protect you from potential scams and provides peace of mind.
2. Wide Selection: Buying resale tickets on Ticketmaster opens up opportunities to access a broader range of ticket options. You may find tickets for sold-out events or obtain seats that are better than what was originally available during the primary sale.
3. Price Flexibility: Resale tickets allow you to explore a range of prices that suit your budget. Depending on demand, you might find tickets at a lower or higher cost than the face value set by the event organizers. This flexibility provides options for different spending preferences.
4. Last-Minute Availability: If you’ve decided to attend an event at the last moment, buying resale tickets is a convenient option. Even when the primary sale is closed, there’s often an extensive selection of tickets available through resale.
5. Ticketmaster Fan Guarantee: Ticketmaster provides a guarantee to buyers of resale tickets, offering full refunds or replacement tickets if any issues arise. This assurance gives buyers confidence in their purchase.
6. Secure Transactions: Ticketmaster ensures secure transactions for resale tickets, protecting your personal and financial information throughout the buying process. This safeguards your data from potential threats and maintains privacy.
7. Trusted Marketplace: Ticketmaster has built a reputable marketplace for buying and selling tickets, making it a trusted platform for fans. This ensures a reliable and transparent process for buyers of resale tickets.
In addition to the initial ticket purchase fee, Ticketmaster also charges fees on the resale of tickets, effectively doubling their revenue. This practice has sparked controversy and scrutiny, as it allows Ticketmaster to make significant profits from the secondary ticket market.
Does Ticketmaster Make Money on Resale?
Additionally, Ticketmaster earns money through their subsidiary company, TicketsNow, which is a platform specifically designed for ticket resale.
Ticketmasters profit on resale tickets is also boosted by their dynamic pricing system. This system allows Ticketmaster to adjust the prices of resale tickets in real-time based on factors such as demand, availability, and market conditions. As a result, Ticketmaster can maximize their profits by charging higher prices for highly sought-after events.
Furthermore, Ticketmaster has been criticized for partnering with professional ticket resellers or “scalpers” to gain even more profits. These partnerships often involve resellers using automated software, known as “bots,” to purchase large quantities of tickets in bulk. The resellers then list these tickets on Ticketmasters resale platform, earning both the resellers and Ticketmaster substantial profits.
However, the resale market doesn’t come without it’s challenges and controversies. In recent years, there’s been growing backlash from fans who feel exploited by the high prices of resale tickets. Many argue that Ticketmasters control over the primary and resale ticket market results in inflated prices, making it increasingly difficult for average fans to attend their favorite events.
Overall, while Ticketmaster undeniably profits from the resale market, the extent of their earnings may vary depending on factors such as the popularity of the event, ticket demand, and market conditions. Regardless, Ticketmasters involvement in the secondary ticket market has long been a subject of controversy and continues to be a point of contention among consumers and industry observers alike.
Selling concert tickets can be a lucrative business, but it’s not without it’s challenges. Resellers must carefully consider factors such as ticket demand, acquisition costs, and pricing strategies to maximize profitability. According to analysis of popular ticket resale platforms like StubHub, the average profit margin for concert ticket resellers tends to hover between 10-20% per ticket. The following sections will delve into some key factors that can influence these margins, helping you assess whether reselling concert tickets is a viable revenue stream.
Do You Make Money Reselling Concert Tickets?
Reselling concert tickets can indeed be a lucrative venture for those who’ve an understanding of the market dynamics. The profitability of selling concert tickets primarily hinges on factors such as the level of demand for the tickets, the cost at which the tickets were acquired, and the pricing strategies employed by the reseller.
Highly popular artists or bands, especially those with a limited number of tour dates, tend to command a high level of demand for their tickets. This high demand can drive up ticket prices, thereby increasing the potential profit for resellers. However, events with smaller audiences or less popular artists may have lower demand and consequently lower profit margins.
Another important consideration is the cost of acquiring the tickets. Resellers often purchase tickets through various means, such as presales, fan clubs, general sales, or even from other resellers. The cost at which the tickets are acquired significantly impacts the potential profit margin. Conversely, if the acquisition cost is high, the profit margin may be slim or even negative.
Resellers need to gauge the demand for tickets and set prices accordingly. They must strike a balance between maximizing profits and ensuring that the prices remain competitive in the market. Offering tickets at overly inflated prices may deter potential buyers, while selling them too cheaply may result in missed opportunities for higher profits.
However, success in this industry also requires a keen understanding of market trends, effective pricing strategies, and keeping up with the ever-changing landscape of the music industry.
Strategies for Acquiring Concert Tickets at a Lower Cost
One possible strategy for acquiring concert tickets at a lower cost is to keep an eye out for pre-sales or early bird specials. These offers often provide discounted tickets to those who buy them before they go on general sale. Another strategy is to sign up for ticket newsletters or follow social media accounts of ticket vendors, as they sometimes offer exclusive promotions or discount codes. Additionally, it’s worth checking for ticket reselling platforms where people may sell their tickets at face value or below, especially closer to the event date. Lastly, attending concerts on weekdays or opting for less popular showtimes can sometimes result in lower ticket prices. Remember to always be cautious and buy tickets from reputable sources to avoid scams.
When it comes to selling tickets, Ticketmaster and StubHub have gained popularity for their user-friendly platforms and reasonable seller fees. Fans can easily create an account and list their tickets without any upfront charges. Once the tickets are sold, both platforms reportedly take a modest 15% fee. It’s worth noting that these percentages can vary in certain cases, based on factors such as event type and ticket price.
What Percentage of Fees Does Ticketmaster Take?
However, when it comes to buyer fees, there’s a significant difference between the two. Ticketmaster is known for charging higher fees to the buyers, which can range from 10% to 20% of the ticket price. On the other hand, StubHub typically charges a lower buyer fee, ranging from 10% to 15% of the ticket price.
Generally, the higher the ticket price, the lower the fee percentage. For example, tickets for a high-demand concert or sporting event may have a fee percentage of around 10%, while tickets for a lower-demand event may have a fee percentage of 15% or higher.
While it’s free to create an account and list tickets, the 15% seller fee can still add up, especially for high-priced tickets. Sellers should also keep in mind that Ticketmaster may charge additional fees for services such as ticket delivery or reissuance.
Despite the fees, many sellers choose to use Ticketmaster due to it’s wide reach and established reputation in the ticketing industry. Ticketmaster holds partnerships with major venues and promoters, which can give sellers access to a larger pool of potential buyers. Additionally, Ticketmaster offers advanced marketing tools and resources to help sellers promote their listings and increase visibility.
Ultimately, it’s important for sellers to carefully consider the fees and benefits associated with each platform before deciding which one to use.
Comparison of Ticket Fees for Other Ticketing Platforms (e.g. Live Nation, AXS, Eventbrite)
When comparing ticket fees for different ticketing platforms like Live Nation, AXS, and Eventbrite, it’s essential to analyze the costs associated with purchasing tickets. These platforms charge additional fees, including service fees, facility fees, and processing fees, which can vary greatly. By comparing the fees across these platforms, individuals can make informed decisions and select the most cost-effective option for purchasing event tickets.
When purchasing tickets on Ticketmaster, you might come across two options: “standard ticket” and “verified resale ticket.” It’s important to note that a “verified resale ticket” refers to tickets being sold by a private party, such as a scalper, rather than directly by Ticketmaster themselves. This distinction is crucial as it affects factors like pricing, authenticity, and the overall buying experience. Now, let’s delve deeper into the differences between these two ticket options.
What Is the Difference Between Available and Verified Resale on Ticketmaster?
On Ticketmaster, there are two primary options for purchasing tickets: available and verified resale. It’s important to understand the difference between these two categories in order to make an informed decision. While both options are for purchasing tickets, they differ in terms of their source and reliability.
When a ticket is listed as “available” on Ticketmaster, it means that it’s being sold directly by the event organizer or an authorized ticket seller. These tickets are directly issued by the venue or the artist, ensuring their authenticity. As they come directly from the source, available tickets are generally considered the most reliable option. The prices for available tickets are set by the event organizer and may vary depending on factors like seating section, demand, and ticket availability.
In contrast, “verified resale tickets” on Ticketmaster are being sold by private parties, often referred to as scalpers. These individuals purchase tickets initially and then list them for sale on Ticketmasters platform. Unlike available tickets, verified resale tickets aren’t directly issued by the event organizer. Instead, Ticketmaster verifies the authenticity of these resale tickets to ensure they’re legitimate and not counterfeit. However, their availability and prices are determined by individual sellers, often leading to higher prices due to the supply-demand dynamics in the secondary market.
However, buyers should exercise caution and conduct thorough research before purchasing verified resale tickets to ensure a secure and reliable transaction.
The Pros and Cons of Buying Verified Resale Tickets on Ticketmaster
- Pros of buying verified resale tickets on Ticketmaster:
- Access to sold-out events
- Guaranteed authenticity of tickets
- Opportunity to purchase premium seats
- Potential for lower prices compared to other resale platforms
- Convenient and user-friendly ticket purchasing process
- Protection against fraudulent sellers and scams
- Cons of buying verified resale tickets on Ticketmaster:
- Possibility of higher ticket prices compared to face value
- Additional fees and charges imposed by Ticketmaster
- Limited control over ticket pricing
- Risk of tickets selling out quickly during high-demand events
- Dependency on the availability of resale tickets
- Potential for scalping and price manipulation by sellers
Conclusion
Additionally, Ticketmaster's dynamic pricing system allows for price adjustments based on demand, meaning that ticket prices can increase or decrease in response to market conditions. There are instances where resale tickets may be available at a lower price due to a seller's desire to sell the tickets quickly. Therefore, it’s essential for consumers to carefully compare prices and consider their options before purchasing resale tickets on Ticketmaster.