The Impact of Ticket Resale on Live Events
Benefits of Ticket Resale
Ticket resale firm StubHub has recently filed for an IPO in New York, bringing attention to the growing industry of ticket resale. This article will explore the impact of ticket resale on live events and the concerns it raises. Readers will gain insights into the benefits and drawbacks of ticket resale, as well as its effects on event organizers, fans, and the overall live event experience.
Drawbacks of Ticket Resale
Ticket resale offers several benefits that enhance the live event experience. One major advantage is the increased access to sold-out events. Many fans who missed out on tickets initially can still attend their favorite concerts and shows through ticket resale platforms. This ensures that more people get the opportunity to see their favorite artists live. Another benefit is the potential for lower ticket prices. Through ticket resale, fans have the chance to find tickets at prices that may be more affordable than the original face value. This allows individuals with tighter budgets to still enjoy live events without breaking the bank. Additionally, ticket resale provides flexibility for attendees to change their plans. Life can be unpredictable, and sometimes people are unable to attend events they've already purchased tickets for. Ticket resale platforms allow them to sell their tickets to someone else who can make use of them, preventing waste and ensuring that tickets don't go unused.
Effects on Event Organizers
Despite its benefits, ticket resale also comes with some drawbacks. One major concern is the issue of scalping and inflated prices. Some resellers take advantage of high demand and limited supply to sell tickets at exorbitant prices, making it difficult for genuine fans to afford attending events. Another drawback is the potential for fraudulent tickets. In the secondary market, there is a risk of purchasing counterfeit or invalid tickets. These scams can lead to disappointment and financial loss for unsuspecting buyers. Lastly, ticket resale platforms may limit control for event organizers. Organizers may have specific policies in place to ensure a fair and smooth ticketing process, but these policies can be harder to enforce in the resale market. This lack of control can lead to frustration and challenges for event organizers.
Conclusion
Ticket resale poses challenges for event organizers. One notable effect is the difficulty in enforcing ticket policies. Event organizers may have rules in place to prevent scalping and fraudulent activity, but these rules are harder to enforce in the secondary market. This creates a loophole that can be exploited by resellers. Another significant impact is the lost revenue from price differences. When tickets are resold at higher prices, event organizers miss out on potential profits. This can affect their ability to invest in future events or make improvements to enhance the overall experience for fans. As a result, event organizers need to come up with innovative strategies to tackle these challenges. They may explore partnerships with ticket resale platforms to gain more control over the secondary market or invest in technology that can track and authenticate tickets to minimize fraud.