Revenue / 04.18.19
The Secondary Market for Coachella Tickets Is Cratering
Consequence of Sound (04/15/19)
Tickets to Coachella are being sold at deep discounts as the music festival's second weekend approaches. When passes first went on sale in January, both weekends sold out within an hour, but in the weeks leading up to the event, a limited number of additional tickets were issued for April 19-21, which are still available. StubHub currently has abundant GA passes in the mid-to-high $300 range, bottoming out at $394.65 after fees. This is 8 percent lower than the $429 face value, while VIP passes priced at $999 on the Coachella website are going for $751.50 plus fees. Such price points are fairly unusual for Coachella. In previous years, third-party sellers have had listings as much as twice the face value, right up to the day of the event itself. It is unlikely, however, that this discount trend signals declining interest in Coachella.
Read the full article on Consequence of Sound.
Tags: Music , Reselling , News , Secondary Ticketing