www.ticketnews.com: In the multi-billion dollar ticket market the competition is fierce. Live events engender consumer passion that is rarely matched in other industries, especially for hot events.
However, the reality is not every game or concert tour is a blockbuster where demand outweighs supply multiple times over resulting in immediate sell outs. For many years and still today, professional ticket brokers play an important and valuable role as investors in events when they assume financial risk of unsold or undersold ticket inventory, and work to sell their tickets and fill seats.
1 comment:
This article is very interesting because most of the time people think of tickets being resold as a bad thing yet this article starts off saying that it is wonderful for companies to sell out houses. Yes, it makes sense to have a sold-out house are a good thing because more money helps theatres function better but this also opens up the world to ticket scammers. If tickets aren't being sold only from the official ticket sellers the ticket buyers run the risk of picking up scammed tickets and missing out on live theatre. I disagree with the article's optimism of tickets being sold by other sources only because of the negative effects of tickets being re-sold. It’s only a little comforting to know that the official ticket sellers are in communication with ticket re-sellers.
I was impressed by when the article said that 22% percent of revenue for ticket companies comes from the handling fees. This is a huge amount of money and shows that little contributions add up to a lot. This would be an interesting application to other sources of revenue like fundraising. Instead of having big fundraiser would it be more effective for companies to have smaller fundraisers adding up to large contributions.
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