9/12/2023 0 Comments Junkedit junk jack![]() ![]() This is something they're just going to have to work out between themselves. There has long been fear that if the ticket price was consolidated into a single all in price that the act would just want all that money and there would be no way to pay the promoter, ticketer or venue. The long standing compromise was that the service fee was divided between everybody else other than the act so that they could afford to operate. In ticketing, there is tension because the historical way performers have been paid has been to take all the money which was the face value of the ticket leaving nothing to pay for the ticketing company or to pay to the venue or to pay the promoter. You only get charged when you go in the restaurant or bar and order a drink or a meal. It's similar to the idea that you shouldn't get charged for a hotel to have a restaurant if you aren't eating any food. But, when you book time in the spa you pay for the service you are going to receive and if you are not going to the spa you don't get charged at all. This is very different than booking time in the spa. Everybody has a telephone in their pocket and nobody needs a swimming pool in the middle of winter or when they're only checking in for the night and checking out immediately in the morning to catch a flight. When a hotel puts a price on a room at $200 and then adds a mandatory fee of $35 per night for amenities like the swimming pool and the telephone it is a junk fee. A junk fee is a fee assessed in return for nothing. It is also important to talk about what is a junk fee. Similarly, there will be consumer confusion because they may assume that everybody is moving to all in pricing when in fact the only secondary event ticket markets committed to it are TickPick and SeatGeek This creates further confusion in the marketplace because consumers may assume all in pricing for any Live Nation ticketed event only to find out that on certain sports tickets or events held at venues not owned by Live Nation there are still additional fees added at the very last screen. For example, Live Nation is committed to all in pricing for venues which it owns but silent as to venues which it does not own. The promises which were made in the White House meeting are not as clear as the press has described them. MORE FROM FORBES Bruce Springsteen Tickets For Houston Now Cost The Same As Two Gallons Of Gasoline By Eric Fuller ![]() I've written about this extensively in the past including this story below talking about how during the height of the Bruce Springsteen ticketing frenzy where tickets went as high as $5,000 apiece because of unrestricted dynamic pricing they got as low as $6 on the day of show in Houston, Texas and other cities. Consequently, market makers move their prices down as showtime approaches. If the show hasn't sold out the ticket is going to be worth zero once the show begins. The other deep secret is that people who wait until a couple of days before the event usually find that ticket prices soften. This is because consumers go to the Internet and type in the name of the performer they want to see thereby requiring markets competing with each other to spend ever more money on AdWords and keywords in order to be found in the top few results rather than on the 15th page. The deep secret about all of this is the biggest contributor to the cost of ticketing and complexity of distribution is Google GOOG. So, the only true change that may occur from this slow shift to all in pricing is that consumers may select worse tickets in order to get cheaper prices. What is going to change is that the decision making process on the part of the consumer may be different when they understand just how much they're paying for the tickets they selected.īecause people are prone to underestimate how many additional costs will be added to the price of a ticket, when they make their ticket selection they typically choose a more expensive ticket than they would have otherwise had they known the final checkout price. This isn't going to change as a result of the movement toward all in pricing.
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