raebyddet
Joined: February 11, 2003 at 06:01 AM UTC
Posts: 97
The tickets are worth what they're worth
September 02, 2003 at 01:34 PM UTC
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Ticketmaster is going to start auctioning off the best seats to concerts online.
"The paper says there would be no limit on how high prices could go - it would be simply a matter of how much people were willing to pay."
"The tickets are worth what they're worth," said Ticketmaster CEO and president John Pleasants, in an interview with the Times. "If somebody wants to charge $50 for a ticket, but it's actually worth $1,000 on eBay, the ticket's worth $1,000. I think more and more, our clients - the promoters, the clients in the buildings and the bands themselves - are saying to themselves 'Maybe that money should be coming to me instead of Bob the Broker.' "
http://www.cbsnews.com/stories/2003/09/01/tech/main570971.shtml Not that it will really affect shows at the 930, but it doesn't seem like a good idea. I know this essentially happens already with the front row seats to a lot of concerts being sold by brokers on eBay. This would just seem to eliminate any chance for fans that don't have a lot of money to spend on concerts to get good seats.
kosmo
Joined: September 23, 1999 at 05:01 AM UTC
Posts: 16329
Re: The tickets are worth what they're worth
September 02, 2003 at 02:22 PM UTC
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Originally posted by raebyddet:
Ticketmaster is going to start auctioning off the best seats to concerts online.
"The paper says there would be no limit on how high prices could go - it would be simply a matter of how much people were willing to pay."
"The tickets are worth what they're worth," said Ticketmaster CEO and president John Pleasants, in an interview with the Times. "If somebody wants to charge $50 for a ticket, but it's actually worth $1,000 on eBay, the ticket's worth $1,000. I think more and more, our clients - the promoters, the clients in the buildings and the bands themselves - are saying to themselves 'Maybe that money should be coming to me instead of Bob the Broker.' "
http://www.cbsnews.com/stories/2003/09/01/tech/main570971.shtml
Translation:
"Profits are down for Ticketmaster and Clear Channel and the stockholders aren't happy. So in order pay for all the debts and executive bonuses we have found a way to screw the consumer even more. The service fees alone on a $1000 ticket will more than cover the extra security costs required when Bob the Broker starts losng money.
Personally I'm hoping to cash in some stock options after the stock price goes up…"
kosmo
Joined: September 23, 1999 at 05:01 AM UTC
Posts: 16329
Re: The tickets are worth what they're worth
September 02, 2003 at 02:25 PM UTC
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so seriously how long before they withdraw this new policy? and will regulators continue to give the blind eye to ticketmasters, give they have the largest share of ticketing for shows and are clearly using that to really stick it to consumers now. bring on the fan clubs!
markie
Joined: October 15, 2001 at 05:01 AM UTC
Posts: 13178
Re: The tickets are worth what they're worth
September 02, 2003 at 02:33 PM UTC
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as this is essentially the same as scalping tickets, I think I should also be allowed to sell tickets to the highest bidder outside of a sold out show, just before it starts.
In all seriousness if ticketmaster sell 1 ticket for $100, can other tickets then be legally resold at that price, or does it have to be the face price still, even if both are GA?
bags
Joined: October 30, 2001 at 06:01 AM UTC
Posts: 8545
Re: The tickets are worth what they're worth
September 02, 2003 at 02:37 PM UTC
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You're right, Markie. Ticketmaster can do this, but they're going to bust me outside the venue for selling a ticket at any price?
And the concern here is not that front row tickets go for $1000, but that prices to all tickets to a sold-out show will rise to insane amounts. And just about every band has fans willing to pay whatever they have to, raising the overall market price.
Regulators (who regulates this, by the way?) can't allow this. If costs are based solely on market-driven indicators, then the seller has to be proven to have no market power. Actually, this may be the wedge to finally open that door so that a ruling can be made that Ticketmaster has inordinate and unacceptable market power here.
markie
Joined: October 15, 2001 at 05:01 AM UTC
Posts: 13178
Re: The tickets are worth what they're worth
September 02, 2003 at 02:44 PM UTC
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Originally posted by bags:
If costs are based solely on market-driven indicators, then the seller has to be proven to have no market power.
I did not know that…..
as TM has most shows and all ticketing at a particular show, it would put them in an untenable situation. YAY!
Metal Meltdown
Joined: Unknown
Posts: 0
Re: The tickets are worth what they're worth
September 02, 2003 at 02:55 PM UTC
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this has been a terrible year for concerts..they should go for it and alienate the consumer a little more….
sonickteam2
Joined: Unknown
Posts: 0
Re: The tickets are worth what they're worth
September 02, 2003 at 03:01 PM UTC
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the end of the world is coming…for sure.
i am waiting for the inevitable "anal cavity search" before entering any venue.
mankie
Joined: Unknown
Posts: 0
Re: The tickets are worth what they're worth
September 02, 2003 at 03:12 PM UTC
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You know, the solution is really quite simple…DON'T BUY TICKETS FOR SHOWS THAT YOU THINK ARE OVERPRICED. I didn't go to college but I think in economics there's something called "supply and demand". ;) As long as people pay it they'll keep raising the prices.
Bitching about it while pulling out your wallet is not going to change anything.
kosmo
Joined: September 23, 1999 at 05:01 AM UTC
Posts: 16329
Re: The tickets are worth what they're worth
September 02, 2003 at 03:17 PM UTC
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so the "fans" get to "control" the price the of the first ten rows at a show… does this mean that ticket brokers are going to close up shop? of course not it just means that they will still be buying up tickets and getting whatever the corporate ticket buyer is willing to pay for them. and they'll be able to get close to whatever the "fans" paid for the best tickets. in fact it will make it easier for them to justify what they charge. of course the rest of the crowd gets to pay loads for the the right to sit in the nose bleed sections having been locked out by those willing to pay a premium.
markie
Joined: October 15, 2001 at 05:01 AM UTC
Posts: 13178
Re: The tickets are worth what they're worth
September 02, 2003 at 03:22 PM UTC
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Originally posted by mankie:
DON'T BUY TICKETS FOR SHOWS THAT YOU THINK ARE OVERPRICED.
but when a show sells out, that means it is underpriced? So by that logic TM is correct in auctioning tickets.
ggw
Joined: December 16, 2001 at 06:01 AM UTC
Posts: 14237
Re: The tickets are worth what they're worth
September 02, 2003 at 03:26 PM UTC
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They should implement this policy for all tickets.
Therefore, a not-so-popular show would sell tickets for their market value. If not enough people were interested at $20, the tickets would sell for say, $3.00.
I'm curious about what happens to the money. Does TM get to keep the excess profit? Or, does it go to all parties involved in the concert?
sonickteam2
Joined: Unknown
Posts: 0
Re: The tickets are worth what they're worth
September 02, 2003 at 03:27 PM UTC
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I do think this is really only going to affect a small FEW of the shows we go to though. I doubt this will affect that many of the club shows….more like the stadium/arena/ampitheather type shows, which i have been to 3 of all year…and 2 were Radiohead.
markie
Joined: October 15, 2001 at 05:01 AM UTC
Posts: 13178
Re: The tickets are worth what they're worth
September 02, 2003 at 03:32 PM UTC
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Originally posted by ggwâ?¢:
Therefore, a not-so-popular show would sell tickets for their market value. If not enough people were interested at $20, the tickets would sell for say, $3.00.
This would obviously be a very good deal for venues as more bums in a a show means more drink sales. But it would nice not to be gouged on the high end.
Nothing beats the convenience of buying a ticket directly for a fixed price though.
I mean, how many people who post here have bought tickets for shows off of ebay?
ggw
Joined: December 16, 2001 at 06:01 AM UTC
Posts: 14237
Re: The tickets are worth what they're worth
September 02, 2003 at 03:37 PM UTC
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Originally posted by Anton Newcombe:
I mean, how many people who post here have bought tickets for shows off of ebay?
I haven't specifically used eBay, but I've paid up to brokers if that's what it takes.
Six of one, half-dozen the other if you ask me. Brokers tend to get the best seats anyway, and set higher prices. So now TicketMaster is doing it.
mankie
Joined: Unknown
Posts: 0
Re: The tickets are worth what they're worth
September 02, 2003 at 03:48 PM UTC
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I was just making a general statement, not having a go at anyone or trying to start a rebellion. But I will say that if you are paying these high prices for these tickets then don't complain about it…it's a SHOW for crying out loud..if you were bitching about the cost of a life-saving medical procedure I would have a more sympathetic ear. There's quite a few shows I've skipped this year because I thought they were overpriced. I tend to calculate the cost of the evening rather than just the ticket price. Ticket, parking, couple of beers etc.
chknfngrs
Joined: Unknown
Posts: 0
Re: The tickets are worth what they're worth
September 02, 2003 at 03:53 PM UTC
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I thought a ticket was worth the price printed on it.