Tuesday, April 14, 2009

10 Things Your Ticket Broker Won't Tell You at SmartMoney.com

A good article on the primary and secondary ticket market can be found at the following link
10 Things Your Ticket Broker Won't Tell You at SmartMoney.com. As stated this is a good article but it does have the following problems or half truths:

Over all this was a good article but it was not 100% true either, but in my 20 years of being a ticket broker I have never seen one that did tell the truth 100%. Why is this? It is simple the Artist, Promoters, Teams and their Owners, Venues and Theaters do not want the truth known.
The 1st untruth with this article is that not admitting giants like Ticketmaster and Live Nation and Tickets.com are generally the box offices for most venues. It is true that a handful of venues like the Toyota Center in Houston and the Wachovia Center do operate their own box offices but they also have their own ticketing system and generally do not sell their tickets thru Ticketmaster either.
2nd The primary market prices will catch up with the secondary market. This will never happen as long as there is a limited supply of tickets. There is no way that a 13,000 seat venue in a a city with 3, 5, 7 million people will every be able to sell enough tickets to catch up with the demand. Case in point is the recent Garth Brooks Concerts in Kansas City. Brooks played 7-8 a concerts to try and easy the demand on the ticket supply and to keep his ticket from selling on the secondary market. Did he succeed? No! Their were still fans that were unable to get tickets before they sold out and there is always fans willing to spend more money for a better seat then they can get from Ticketmaster or the box offices. As for The Super Bowl example, this is unfair example considering that the NFL only sells a about 2,000 tickets a year to the general public.
3rd the biggest problem with this article in my view is that it is made to sound like the majority of tickets are being resold on the secondary market and that ticket broker cause these events to sell out and keeps fans from getting tickets. Nothing could be further from the truth for the biggest and hottest events there maybe a total of 5-7% of the tickets being resold on the secondary market. Many of these are being resold by fans who only need 2 or 4 tickets but bought the maximum tickets allowed. They sell these tickets through online ticket brokers, Stubhub, eBay, and Craiglist.. Also if you visited 20 different ticket brokers web sites and show 300 tickets for a given event on each web site it doesn’t mean that their all 6,000 tickets for sell by brokers. What the media will not tell you is that you are seeing the same 300 tickets on sale on 20 different sites. Online Ticket Brokers share their inventory and sell each other tickets.

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