“Many artists discover that it’s quite difficult performing on a circle stage, especially alone,” explains Perron. You generate a ton of revenue up front, but you still have a $25 price point that makes it more affordable for individuals who want to see an arena show.”īeyonce & JAY-Z Dress Up as Lil' Kim & Notorious B.I.G.
“We are seeing many creative pricing strategies and we are seeing artists find what works for them. “This might be the future of ticketing,” explained Patrick Ryan with ticketing and inventory company Eventellect. Al-Joulani says JAY-Z has already sold more tickets than the entire Magna Carta Tour, and that’s with 30 more shows to go. 28) saw 1,480 tickets sold with 24 hours of JAY-Z taking the stage without any tickets marked down in price, a record for an arena show in Sin City. Al-Joulani explained that the 4:44 Tour sells eight to 10 percent of total tickets on the day of show - the Las Vegas concert at T-Mobile Center (Oct. 26 fight between Floyd Mayweather and Connor McGregor in Las Vegas - was also dogged by rumors of slow ticket sales because of low prices on the secondary market, only to post a staggering $55.4 million gate.įurther adding to pressure on the secondary is Live Nation’s strategy to release large blocks of tickets prior to JAY-Z taking the stage. In fact, the highest grossing event of 2017 - the Aug. Jay-Z performs at the Talking Stick Arena in Phoenix on Nov. In the last year, artists including Tool, Radiohead, the Weeknd, One Direction, Coldplay and U2 have all presented sellout shows with both $500+ tickets for the best seats, and $15 get-in-the-door tickets on sites like StubHub. The result: a seven-figure per night gross for JAY-Z and a lower get-in-the-door price for fans looking for a deal. And since consumers can still choose between buying the same seat on the primary or the secondary, many brokers end up selling off tickets below face value, taking a loss. Priced out of the top tier, many ticket brokers are stuck buying and selling tickets in the upper bowl. That’s bad news for ticket resellers - by pricing tickets closer to actual market value, JAY-Z and Live Nation are capturing more revenue and creating little room for brokers to mark up the best seats.Ĭonversely, the strategy takes pricing pressure off the upper-level seating sections. Sales for JAY-Z’s tour represent a paradigm shift in concert tickets: by more aggressively pricing front row seats, VIP experiences and platinum tickets, concert promoters are getting increasingly more skilled at commanding high prices and record grosses from their best seating inventory. JAY-Z Gets Deep Into '4:44' on Tour's Kick-Off Concert in Anaheim, Calif.
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