Ticket prices for Beyoncé’s Cowboy Carter stadium tour are apparently like that axiom about the weather. If you don’t like it, just wait a bit and it’ll change.
A Friday report in The Times of London said some fans were surprised and disappointed when they discovered tickets they bought for several hundred dollars or more in the pre-sale have dropped in price to $50 or less, in some cases.
The superstar singer’s Cowboy Carter tour was projected to generate $294 million in revenue with the sale of up to 1.2 million tickets, the Times article said. But some shows have not sold out, and tickets are being unloaded at lower prices.
Beyoncé’s show on Thursday at SoFi Stadium in Los Angeles was cited by the media outlet as a prime example. The paper reported that Ticketmaster, the official seller of Beyoncé’s tour tickets, had seats for as little as $49 about five hours before the show.
“On Stubhub, the top US ticket resales market, more than 2,000 were available for as little as $49,” the outlet reported. An hour before the show, prices fell to $25 on Ticketmaster and $34 on Stubhub. However, the most expensive seats at the front were still going for $1,000.
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The blame for the wide gap in pricing has several reasons, the Times contended. The pre-sale for the tour attracted loyal fans willing to pay any price, and the initial surge included ticket speculators eager to mark up seats.
But more casual Beyoncé backers didn’t buy the super-expensive pre-sale tickets, causing prices to drop.
“I was like, ‘absolutely not’, there’s no way I can afford to pay that and still function,” one fan quoted by the Times stated. “I love Beyoncé, but I also love being able to pay my rent.”
But MarketWatch reporter there might be another reason for the falling prices — economic troubles in the U.S.
“The timing is tough with a potential recession in the cards,” Samyr Laine, a former music-industry executive and co-founder of venture capital firm Freedom Trail Capital, told the outlet.
Nathan Green, chief executive of New Level Radio, which creates customized audio experiences, added that luxuries are the first things to go during tough economic times.
“When there is even a threat of a possible recession, the first thing people will cut is luxury expenses and unfortunately, that includes entertainment such as concerts and sporting events,” Green said.
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