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New Springsteen single out today

Discussion in 'Anything goes' started by UNCGrad, Nov 25, 2013.

  1. Webster

    Webster Well-Known Member

    Agreed — he has worked very hard in the past to make his tickets affordable. He never had more than 2 tiers of pricing and they were well less than similar artists. Back in the day the best seats had to be picked up in person at the arena with the credit card used to purchase (aka, the “jailbait” seats). In order to make sure that the area closest to the stage went to the most enthusiastic fans, that area was standing only and if you got there really early, you could enter a lottery to stand super close to the stage (the pit).

    If he wanted to eliminate the dynamic pricing he could do it in a heartbeat. It’s a money grab and it’s depressing.
     
  2. Mngwa

    Mngwa Well-Known Member

    The thing is, the prices were wild from the start. I paid over $400 for a pair at a relatively small venue. They were not the most expensive tickets, but they're also not nosebleed seats. But the thing is, I had a code and I was in the queue. So why does dynamic pricing even come into play? They knew exactly how many people had codes and we're going to be in the queue for my venue. There was no crush of demand, it was all pre organized. Therefore there should not have been dynamic pricing at all.
     
  3. Woody Long

    Woody Long Well-Known Member

    I got four this morning for an April show at UBS Arena at Belmont Park. Paid $750 or so. Will sell one of them and it'll hopefully cover most of the other three.
     
  4. goalmouth

    goalmouth Well-Known Member

    Ticketmaster's been an abusive monopoly for more than 20 years with pols in its pocket.

    Also, I'm a fan, but Springsteen and Landau can go FUCK themselves.
     
  5. The Big Ragu

    The Big Ragu Moderator Staff Member

    Supply is fixed. So if they want to sell tickets for as much as they can get, they can let demand determine ticket prices.

    I don't know what you mean by "no crush of demand," but they can only get as much per ticket as there are buyers at higher and higher prices. If those buyers aren't there, yeah, you can say there was no demand at that price. . ... But the fact that they were able to employ dynamic pricing for a portion of tickets, and they found buyers at $5,500 a ticket, is the only thing necessary to demonstrate that the demand was there at that price. Same as there will be an aftermarket with people paying thousands of dollars per ticket. The difference is that by employing dynamic pricing Springsteen decided to make more money on a portion of the tickets, putting the money some people are willing to pay (into the thousands of dollars) into his own pocket rather than a scalper's pocket.
     
  6. dixiehack

    dixiehack Well-Known Member

    I miss honest-to-God scalpers. Not the shell companies trading electrons back and forth, but the in-the-flesh hustlers with paper tickets (of varying legitimacy) in hand. Even for games where I already had my ticket I’d sometimes ask around just to see what the market was like outside the stadium. A season around college football scalpers in the 90s should have been worth credit hours in psychology and economics.
     
    Batman likes this.
  7. Mngwa

    Mngwa Well-Known Member

    Because they knew how many people had codes. How can there be anything other than the number of people they gave codes to?
     
    I Should Coco likes this.
  8. The Big Ragu

    The Big Ragu Moderator Staff Member

    You give out 100 codes to people. You can sell 100 people tickets at $1 each. But if those people are willing to pay $100 each, you can sell 100 people tickets at $100 each. If those people are willing to pay $500 each, you can sell 100 people tickets at $500 each. Etc. etc.

    Now let's say you are willing to go to dynamic pricing for 5 percent of the tickets. If 5 people are willing to pay $5,000 per ticket, you are going to be able to sell 5 tickets for $5,000 each. It's basically like setting up an auction system and seeing just how high people are willing to go.

    The codes they gave out don't limit demand. Demand way exceeds supply, which is fixed. Even if you take a small percentage of the people who want tickets and give them a golden ticket (one of the codes), if you sell tickets based on what people are willing to pay, the limited supply makes it so that that small percentage of people is still going to drive the price up to whatever the equilibrium price is.
     
  9. Jake from State Farm

    Jake from State Farm Well-Known Member

    I have friends who are planning to fly to London and see him there
    I guess tickets are more reasonable in the UK
     
  10. DanOregon

    DanOregon Well-Known Member

    The concert biz has changed, I'm always stunned how act can finance their entire tour by selling tickets six months in advance - put the cash in a safe interest bearing account, hopefully only spend the expected interest on tour prep, and you are probably in the black by week three. And if the Boss comes down with something, you have enough cash to offer full refunds.

    I do love the story about the Jacksons Victory Tour and how it relates to Kraft getting ownership of the team. The one of the idiot sons of the Sullivan family put the team up as collateral to finance the tour. There were serious financial problems with the tour - despite it being very well attended. Anyway - the Sullivans faced a cash crunch and ended up selling to Kraft.
     
  11. justgladtobehere

    justgladtobehere Well-Known Member

    The Sullivan's didn't sell to Kraft. At least Victor Kiam came between the Sullivan's and Kraft. And the Sullivan's ended up winning a lawsuit against the NFL for blocking an earlier sale.
     
  12. TheSportsPredictor

    TheSportsPredictor Well-Known Member

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