That’s kinda bullshit though. There are plenty of cheap, and free concerts. There are other options, one company does not own every event venue in the country.
It’s like claiming Nabisco has a monopoly on cookies cause you can only buy ‘Oreos’ from the Nabisco company. Just buy a different cookie!
I am not assuming competition. The fact of the matter is that people are paying these prices for tickets regardless of who is selling them. Nobody needs to go see Taylor Swift to live (in spite of how some people feel) and yet they are still shelling out for these absurd markups on resale tickets. That’s what I am saying here. People are willing to pay what these tickets are being sold for, so that is their value.
That is their value to some people. If they price every ticket at the highest price a ticket sold for they will mostly have unsold tickets and will lose a huge amount of money. Venues and artists benefit from full arenas because they make money from selling other things so they already have an incentive not to price tickets too high.
The other thing they could do is use dynamic pricing.
This is completely irrelevant to the discussion because nobody mentioned selling all the tickets for the same price or selling them all at the highest price anyone would be willing to pay.
Your economics argument assumes competition where there is none. Alas, it is unsound.
That’s kinda bullshit though. There are plenty of cheap, and free concerts. There are other options, one company does not own every event venue in the country.
It’s like claiming Nabisco has a monopoly on cookies cause you can only buy ‘Oreos’ from the Nabisco company. Just buy a different cookie!
I am not assuming competition. The fact of the matter is that people are paying these prices for tickets regardless of who is selling them. Nobody needs to go see Taylor Swift to live (in spite of how some people feel) and yet they are still shelling out for these absurd markups on resale tickets. That’s what I am saying here. People are willing to pay what these tickets are being sold for, so that is their value.
That is their value to some people. If they price every ticket at the highest price a ticket sold for they will mostly have unsold tickets and will lose a huge amount of money. Venues and artists benefit from full arenas because they make money from selling other things so they already have an incentive not to price tickets too high.
The other thing they could do is use dynamic pricing.
This is completely irrelevant to the discussion because nobody mentioned selling all the tickets for the same price or selling them all at the highest price anyone would be willing to pay.