Fans of top female music stars hit hard by resale ticket sites
Watching your favourite music stars perform live in concert is undoubtedly one of the most exciting forms of entertainment you can experience.
However, it can also be an extremely costly business when it comes to buying tickets, particularly if you need to use secondary sources.
Many music fans will have required a massive jackpot win at Betway online slots to fund ticket purchases on resale sites in recent years.
That is certainly the case where some of world’s top female acts are concerned, with prices often reaching truly extortionate levels.
For example, you would have needed pretty deep pockets to buy resale tickets to watch Adele perform at one of her seven concerts in the United Kingdom over the past five years.
The cheapest price was a mind-boggling £548.63 per ticket – seeing all seven shows at that rate would have cost £3840.41.
Adele is not the only female artist whose tickets fetch princely sums whenever they are advertised on resale sites.
Miley Cyrus has played just six shows in the UK during the previous five years and the cheapest resale ticket would have cost you £283.03.
Olivia Rodrigo (£170.15) and Taylor Swift (£145.25) are other popular female music acts whose ticket prices on resale sites have been overly expensive.
The latter has come in for plenty of criticism over prices for her shows on primary ticket sites, after being one of the first major acts to use the controversial ‘dynamic pricing’ strategy.
Tickets for Swift’s 2018 Reputation tour were sold using the algorithm-based system which adjusts ticket prices in line with real-time demand.
This allowed the singer to grab the maximum amount of revenue from fans willing to pay high prices from primary ticket sites rather than using secondary outlets.
However, many fans blasted the American singer/songwriter for being greedy, particularly when she has already made millions of dollars in the music industry.
Several industry experts argued that Swift could have retained the trust of fans by selling tickets at a fair market rate before hiking the price of a second wave released for sale closer to the event date.
This tactic increases consumer confidence, generally leads to more repeat purchases and thus generates higher revenues in the long term.
By exploiting the loyal fans most desperate to get their hands on tickets, Swift risked alienating the group of people who have supported her the most.
In simple terms, the singer would still be utilising a dynamic pricing model but in reverse, thus rewarding the fans who are the most eager to see her perform.
This is perhaps a strategy other acts would have been well advised to adopt given the criticism they have received over dynamic pricing.
They include Bruce Springsteen, who angered fans by using dynamic pricing to sell tickets to see him perform live next year.
Some fans reported seeing ticket prices as high as $5,000 each – an eyewatering amount when considering the face value of the cheapest tickets was just $59.50.