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Originally Posted by mineistaken
Sometimes I wonder why don't they increase ticket prices? If its being sold out in minutes means you can earn way way more by higher ticket prices. Don't they have basic and smart technique to control thos process "playing" with prices and numbers of tickets being sold at said prices so that they could squeeze the most money out of it?
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In many cases they could charge 3 times what they do and still sell out in minutes. It just depends on where they are and what the demand is. Many artists, however, are afraid of being looked down on by their fans and they want all of their fans, no matter how much money they make, to be able to see them live in concert. So they feel it is better for them to keep the ticket prices down a little bit, sell out fast and make everyone happy than to charge two or three times as much, make a few more dollars and piss some people off.
A perfect example of this is Pearl Jam. At the height of their fame they got in a fight with ticketmaster when they found out that ticketmaster was charging upwards of $50 as a "convenience fee" for the premium seats at the pearl jam shows. They ultimately lost the fight, but still had about 8 dates left on the short tour to play. They refunded every dollar to the people who bought the tickets and still played the shows so those shows were free for the ticket holders. The amount of press and fan love the got from that was worth more than they could have ever gotten from a little higher ticket price.