Do concert ticket prices go down closer to the event?

  • Posted on: 10 Jul 2024
    Do concert ticket prices go down closer to the event?

  • Do Concert Ticket Prices Decrease As Concert Dates Draw Near?

    When you get tickets to see a musician/band you like live is always fun but always a hard task to accomplish. Just as the tickets become available to the public, they are overpriced in every sense of the word. You may ask yourself certain questions – are prices going to decrease or should I buy it right now? Before analyzing the possibility of a decrease in ticket prices as the date of the concert approaches, let’s look at factors that affect the ticket price for the concert.

    Various factors influence concert ticket prices.

    Several key factors play into the base price and fluctuations in concert ticket prices.

    Artist/Band Popularity – An artist who has the latest track that has stormed the market, and who is capable of selling out stadiums and arenas can be charged more than an up-and-coming band that is only capable of performing at small venues. This is because when artists have a relatively large following, their tickets are going to cost more.

    Venue Size and Location – It costs more to stage an arena show than it does a club show based on overhead, production, and the artist fee. Besides, a group of people who will attend a show or a concert in New York City will pay more than those in a rural town.

    Market Dynamics – When there is a large number of fans willing to buy tickets, there is always a scarcity of tickets and thus the prices will be high. When tickets do not attract the target market, the prices are lowered in an effort to create the market.

    Ticket scalpers and bots – These are middlemen and automatic bots that buy up all the tickets to sell at higher prices, much to the chagrin of fans but good business for the ticket-selling companies.

    To schedule or not to schedule that is the question as in when to take students for treatment and learning.

    Of course, prices for the best concert tickets can be the most reasonable when you get them immediately after the tickets go on sale or when there are only several days or hours left before the event. Here's why:

    Buy Early

    Tickets are normally set at the cheapest price from the face value when tickets are first released, through presales for fan club members or on general sale, release date. Base prices do not decline as the event approaches, with the variation usually being slight in most cases. Smart fans tend to book early to avoid missing good positions as the seats get booked by other enthusiasts. It’s also possible for limited early bird discounted tickets to be available during presales depending on the event organizers.

    The one disadvantage of early buying is that one cannot be certain whether the concert will be heavily demanded or not – in effect, whether it will be a hard sell. But for the most celebrated artists, the commotion is authentic thus purchasing tickets prior to any other persons is reasonable.

    Wait Until Last Minute

    This is because, artists, promoters, and resellers are aware that the closer the date for the concert is, the harder it is to sell tickets and hence will drop the price if the ticket does not sell. They prefer earning some cash than performing before an otherwise empty stadium. However, there are always surprises which may force fans to sell their tickets at discounted rates well last one and at a little profit.

    This way the biggest risk of waiting is to lose out as venues fill up and all the establishments book up. If an artist is famous and people directly buy all the performances in a night, expecting ticket prices to drop will not be realized. Second-hand ticket resellers are also out to offer them at way higher prices that you should not bother with.

    In cases where fans have been low in interest for a relatively poor or unappealing line-up, or in cases where promoters set their prices a bit high at the beginning, their prices can drop by about 50% near the event time. Dynamic pricing models allow the price of tickets to vary depending on the supply-demand ratios. So, it is good to check back from time to time to see if the fare for the seats you want has gone down.

    Tickets can be bought at convenience stores, through Internet services such as Ticketmaster and StubHub among others through last-minute ticket-selling services. Such as ‘Fan-to-fan exchange services’ like that enable ticket holders to sell and buy tickets with lower charges. Those who wait until the last minute and linger around the venue can on occasion find some incredible discounts from people desperate to offload their tickets. But this is possible only sometimes; it does not always work out as expected.

    Be Aware of the Best Price

    The ideal opportunity to have great tickets for an affordable price is influenced by the artist and the number of fans and visitors anticipated. When bands have massive amounts of pent-up demand for a show after years of not touring or when bands have given what they claim is their final tour buying early is important. High fan presales are anticipated, and you should be prepared to snatch the general on-sale date. These shows will be a quick sell and quantities will continue to be expensive in the secondary markets.

    For new artists or emerging artists, bands or performers in small venues, or even those whose popularity is gradually declining, lowering the ticket price before the date is also possible. If seats get cheaper, you’ll be notified by the venue, artist, and ticket site, to which you subscribed to. Just wait for some time to do a search for seats in the show as ticket prices are likely to be lowered nearer to the date.

    Although it may seem more appropriate to book dirt-cheap tickets just a few hours before the performance, such a strategy is very dangerous. It gets even better if the event is not a popular one or if you just want to get a specific seat. In case you are planning to dine with friends in particular, it might prove counterproductive to wait long as it may deny you the opportunity entirely.

    It’s also important to be able to compare prices of legit vendor sites like the Box Office, Ticketmaster, StubHub, SeatGeek, etc., instead of assuming that the first price that is presented is to be taken as the market rate. Also use presales, fan clubs, and use promo codes as much as possible as well. Paying for a fan club isn’t cheap initially, but for the most part, those dollars have presale code access for tickets which entails savings in the future.

    It is an exciting feeling to finally see your favorite music artist perform live. If you are a fan of live concerts then it would be helpful to know what influences the ticket price and when the best time to purchase a ticket is, so you can get closer to the band while paying less. Some of the crucial strategies for tracking prices routinely and pouncing when seats open up are; Using the planning skills and techniques, you will get the right ticket to sing with your favorite artist in concert.