Ticketbroker.com has been in the entertainment business for over 20 years, and one thing we understand is that not every ticket to every event has the same value. There are a lot of different situations that can cause prices to change, but the three main reasons are the economy, supply and demand, and the weather. The weather is an obvious one: outdoor concerts and sporting events simply aren’t as much fun in the rain, wind, and cold.
When the economy is bad and people are losing jobs, concert tours and sporting events tend to suffer. Because it’s something people do only when they can afford to do it, the economic conditions of a country or community can drastically affect where ticket prices are set.
In the late 90s, Motley Crüe went on a major Generation Swine tour and only charged $15 for tickets at most venues. Their sold-out shows across the country started a short-lived trend of lower ticket prices. Times were tight, and the gimmick worked for a lot of bands, who were able to get people to part with their money a lot easier by giving them a break on the price. As the economy began to improve, however, prices for all types of sporting and entertainment events skyrocketed. Because people were making more money and the stock market was booming, the tickets kept selling.
In 2010, with unemployment higher than ever and a still-uncertain economy, tickets prices haven’t dropped yet, but concerts and tours are being cancelled. Christina Aguilera cancelled her tour when tickets weren’t selling. Sporting teams are finding it more difficult to fill their stadiums, and many teams have started offering discounted tickets for certain seating areas to improve the draw.
Sometimes, even in a tight economy, the act coming to town is so hot that people will pay any amount to see them and the tickets can be priced far above average. When there are only a limited number of tickets at a venue, it sells out quickly and ticket prices will go up. Performers who win at the Grammys can almost always be guaranteed better sales at their next tour. Miley Cyrus had every parent ready to crack the limit on the credit card in order to put a smile on their daughters’ faces a few years ago; this summer Justin Beiber caused the same kind of excitement.
Sporting teams have the same supply-demand pricing fluctuations. In fact, even if you typically can get tickets to a team’s games for a relatively good price, you might see the price of those tickets go up when they’re playing someone really popular. Before LeBron James left the Cavaliers, for example, the prices for tickets to see the Bulls would always be higher for those two games a year when the Cavs came to play than when they were playing other teams. It’s the same with baseball: if the Yankees or Red Sox are coming to play, the tickets are more expensive than when Kansas City is coming to town.
Ticket prices go up and down with demand, with the popularity of the act, and even with the weather. But one thing’s for sure: whenever you’re looking for tickets to your favorite sold-out act, Ticketbroker.com is the place to start!
