Science

Taylor Swift Eras Tour tickets are selling for over $20,000

Taylor Swift fans are paying through the nose to secure tickets for her “Eras Tour” concerts through resellers Ticketmaster’s site crashed during the pre-sale period, The live concert and ticketing company subsequently canceled a general public sale period that was set to begin on Friday, leading to bad blood between the concert behemoth and Swifty, as fans of the pop artist are known.

On Friday, ticket exchange and resale company Vivid Seats was selling Prime tickets for $8,253. Ticket reseller StubHub lists tickets for Taylor Swift “Erases Tour” events for seats close to the stage as high as $6,300 per ticket for some shows. A Twitter user noted the tickets were being resold through StubHub for $22,500 each.

In fact, ticket prices on the secondary market rose 13% after Ticketmaster announced the cancellation of sales to the general public, according to TicketIQ, another ticket resale and exchange platform.

Tickets are more expensive than previous tours

Tickets for the Eras Tour are selling for 10 times the price of concert tickets that were part of Swift’s earlier tours, according to TicketIQ’s tracker. The average price of a ticket for sale on the secondary market is $2,424.

It is a function of high demand and low supply. Fewer tickets have been issued on the secondary market than in earlier tours. This shows that Ticketmaster did a good job of getting tickets into the hands of true fans as opposed to scalpers.

Jesse Lawrence, founder and president of TicketIQ, said, “Everyone is bashing Ticketmaster, but the flip side is that this ‘verified fan’ product really keeps the touts out, and has sold far fewer tickets than its previous tours.” is being sold.”

According to TicketIQ, the average list price of tickets for the shows on their last tour in 2018 was $157. In 2015, tickets for “The 1989 World Tour” concerts sold for an average of $245.

According to TicketIQ, on average fewer than 1,000 tickets are available for each Eras Tour concert on the resale market, while 9,000 tickets were sold for each show on the singer’s earlier tours.

The most expensive tickets were for Swift’s concert at MetLife Stadium in East Rutherford, New Jersey, with an average price of $3,622 per piece.

Lawrence said, “Demand is off the charts, and Ticketmaster was actually able to get more tickets into the hands of fans. Everyone complaining they didn’t get tickets, someone got tickets.” “There’s not a lot of resale. Everyone who bought the tickets is actually using them – they didn’t buy them to resell.”

“I had sticker shock the first time around”

Mina Oh, a single mom and film festival programmer from Massachusetts, said she checked Ticketmaster’s website the day tickets went on sale, but immediately ran into problems. She ended up on StubHub, where tickets for her May 20 concert at Gillette Stadium in Foxborough, Massachusetts, were selling for upwards of $900.

“I had sticker shock initially, but I knew I would never be able to get them through Ticketmaster,” she told CBS News.

She was eyeing three tickets for herself and her two children that she planned to give them for Christmas. He spent over $1,000 per ticket.

“I knew the prices would be very expensive but when I logged on to StubHub, they blew my mind,” she said. “But it’s iconic, and I want my kids to have that experience.”

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