Concert Promoters Lower Ticket Prices in 2011
If you missed your favorite concerts last year due to high-priced tickets or event cancellations, look ahead. Concert promoters are adjusting ticket prices in 2011 to cater to the fluctuating economy and our pocket books. But the discounts will most likely apply only to seats in the back of the house and promoters will push you to spend your saved dollars on beer and T-shirts at the venue.
Live Nation, the leading concert promoter, recently released an iPhone app that could be used in the future to sell merchandise and they are currently creating a shopping basket on their websites to encourage fans to spend their ticket saving on merchandise and clothing.
Back in the 1990’s, one-size-fits-all-seats pricing tiered out so concert goers would have to spend more money on seats closer to the stage and less for those in the back. Then in 1996 tickets prices starting inching up going from their average $26 per ticket to $67 per ticket in 2008.
So when summer 2009 rolled around, promoters thought about it and decided to lower ticket prices by a dollar, responding to the economic recession, and seeing the subsequent 12% raise in ticket sales, promoters thought they could raise ticket prices in 2010! Didn’t work.
Concert attendance fell 12-16% through September 2010, according to Yahoo! News and so concert promoters and artists are again…taking the hint and lowering tickets prices.
Yahoo! News reports, “Demi Lovato, whose Camp Rock 2 tour with the Jonas Brothers had to cancel a dozen North American shows in 2010, told the AP recently that she’ll do her best to keep prices reasonable for a solo tour planned for 2011 to promote her third album. (Her camp says the tour is still on track, despite her entering treatment for ’emotional and physical issues.’)”
ZZ Top, is another, who expects to set prices below the 2010 average of $55, selling some tickets as low as $10. But for other well-known artists like Neil Diamond, Lady Gaga and Taylor Swift, tickets will be able to remain high.
Rolling Stones reports, “Until the economy picks up significantly, promoters may need to be content with lower prices and smaller profit margins in order to maintain a healthy market.”
As consumers, we can say thanks and budget our entertainment this new year by watching for bargains at the back of the house.
Enjoy the best, in the back, for a bit less.
Photos from jdiggans and Garry Knight via Flickr