Revenue / 12.26.17
The Rise of Late Ticket Buying and What It Means for the Biz
Original article published on Pollstar (12/26/17) by Francisco Rendon
With tickets now available through primary and secondary ticketing websites, some experts say fans are de-prioritizing ticket purchases until the last minute because they know seats will be available, sometimes for lower than face value. "Demand for the live market is shifting," notes Lyte's Ant Taylor. "Some of it is due to mobile, some of it is generational. So we believe, fundamentally, the demand curve is shifting, fans are buying later, and event owners need new tools to ensure there is a butt in a seat." Meanwhile, Ticketmaster has observed a 34-percent boost in mobile ticket sales this year attributed to last-minute purchasing, and a company representative says the firm is working to integrate with Facebook, YouTube, Spotify, and Google Assistant to ease last-minute purchasing, while an alliance with the Gametime ticket-buying app seeks to make a similar impact. There also is speculation that late ticket-buying could be due to the increase in the number of events, especially in big markets. Some agents note although the live industry may be exploding, there is no longer a sluggish period. Eventellect's Patrick Ryan says placing a ticket on sale too far in advance can often dampen early buying, and he also thinks pricing has a huge effect on a customer's willingness to buy early. An industry insider says fans of pop music have a tendency to make early ticket purchases, likely due to massive demand, while other genre fans tend to buy later.
Read the full article on the Pollstar website.
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