Do concert tickets get cheaper as date gets closer?

  • Posted on: 08 Jul 2024
    Do concert tickets get cheaper as date gets closer?

  • The question that arises is whether concert tickets tend to be cheaper as the date of the concert approaches.

    It’s quite apparent that many concert tickets cost a great deal of money nowadays, particularly for some of the most popular musicians or bands and the most popular concert tours. Well, it is quite understandable that you may get curious and ask yourself the following question: Do ticket prices decrease when the date of the concert approaches? Do you think it was possible to grab the seats that were earlier out of your reach due to a last-minute price drop? Or is it OK to simply purchase goods earlier before they are out of stock? Here are the general trends of pricing that are common when it comes to concerts as they draw nearer:

    Initial On-Sale Prices

    Initially, concerts offer their tickets at the highest face value possible on the market. These on-sale prices are usually determined by the artist and promoter with the intention of maximizing on the greatest amount of revenue. Big artists or tours that perform their music in large halls and arenas understand that their tickets will always be in demand regardless of the prices, and as such, they put their ticket prices very high. The choice ones are usually reserved for the fanatic members and those on the pre-sales list. With regards to ticket sales, by the time tickets get out in the market for the general public, the best seats have already been booked.

    Fluctuations in the Week Prior to the Event

    Typically, in the few weeks before the majority of concerts, the price level remains fixed and accessibility is reduced. There are those who will be traveling physically, and they are booking their tickets, especially the middle band. Another group looks for tickets when they plan for a journey at the last moment. Hence, demand rises and accumulates instead of decreasing. It is also important to note that most of the time, the prices can only slightly up or down in the previous weeks. It also leads to a corresponding increase in the number of people who try to make a quick buck out of reselling through ‘resale’ websites. As any fan of concerts would understand, waiting for the price to go down does not pay since it is a rare occurrence. Generally, if you had your plans set on going somewhere, then you would have to grab tickets well in advance.

    The Last Few Days

    Effectively, as the last 72 hours before the start of the show drew near, tickets may start to be sold at lower prices or even slashed substantially. Why is this?

    First, the ticket sales have reached almost 100 percent, and the remaining tickets are under a substantial amount of pressure. The artist, the promoter, and the primary ticket sellers all wish to sell out the house, even at the expense of trimming down on profits. It is necessary to create special actions for filling theaters, cinema halls, sports arenas, etc. Empty seats look bad!

    Secondly, resellers realize they might end up with unsold tickets right before the event, and they begin slashing prices. Some reseller sites and brokers provide their customers with price protection; thus, they absorb the losses. They would prefer to have some form of material gain instead of being left with useless tickets after the event is over. Algorithms come into play and bottom prices are adjusted mechanically.

    Moreover, performers may release additional inventory blocks or complimentary tickets near the date of the performance if they believe these tickets will remain unsold. This simply puts into the market a small amount of tickets that were produced at the last minute.

    Thus, should one wait for developments?

    However, it is advisable to avoid such risks and not buy the tickets within the last 72 hours before the event. Here's why:

    Firstly, you might not know that you lost something good if another fanatic has bought the seats at the newly provided cheaper prices. Then you end up with the resale sites that have the face value prices soaring incredibly during the last-minute panic, thus having to pay more.

    Secondly, in the event that prices are lowered for all the tickets, it is always the case that the best actual seats within a theatre are sold out already. At best, you would still get average-quality seats or single seats that are not in a pair and at a cheaper rate. The great seats go for sale when they are earlier.

    Thirdly, there are those tickets that certain concerts will never offer at a cheaper price, at any time at all. Those who have a high level of demand, such as Taylor Swift or rock bands who are limited in the number of times they can tour, do not reduce prices. Other types of festive-style tours are also worth the money since they are important events celebrated by many people across the globe. Many consumers are torn in that they could miss out on a discount while they expect that there are more markdowns coming soon.

    While such early-bird offers may be used late in the show’s promotional campaign, it seems that they are usually offered when fan demand is not robust, seats are still available, and/or the concert is part of a regular tour. Sitcoms, obscure artists performing in small venues, and annual spectaculars routinely offer deep discounts to ensure that all seats get sold.

    Sharp Practice of Last-Minute Ticket Price Hike

    In the final analysis, trying to capture the right moment and identify the magical lowest cost is out of reach for most fans. Looking for deals on such sites can take hours and hours daily and yet one may not get such deals after broker fees. As much as prices can drop, being lucky is all that any ticket buyer can hope for, especially the early birds who are privileged to get fair prices. Huge last-minute slaughters are relatively uncommon, apart from when an event is a concert that was already experiencing poor attendance in the first place. Buying tickets when you are certain that you want to attend is still the best approach most of the time, as has been indicated. The majority of consumers consider time to be more important than a few cents for each purchase. Choose which shows you prefer; remember to look at the official source first; do not pay more out of fear; and enjoy your show.