You don’t need to be an industry insider to know that the ticketing segment of the music business needs a major overhaul. Concerts are more relevant to the industry now than they have been in a very long time, but there’s a lot more to be done if we are to see them reach their full potential — for artistsand their fans. Thankfully, movers and shakers like the innovators behind new school ticketing platform TicketFly still exist.
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Entries in concert price (2)
The recent release of the Beatles catalog on iTunes made me think - what did a ticket to see them at their live peak cost?
Answer: a prime seat to see the Beatles in Chicago 1966 cost $5.75 - in today’s dollars this is $37.60 - almost ten times less than what you would pay for a huge act today.
Things were different then of course - touring was done mainly to promote record sales and tickets were priced below market purposely to make sure shows were safely sold out and to reward fans for their record-buying loyalty. This produced what economists call a consumer surplus. Some of that surplus was soaked up by the secondary ticketing market.
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(Updated May 3)