The secondary market for all sports and concerts has to be getting close to exceeding the primary market. Depending on the event, we are certain that it is (e.g. Hannah Montana). The bigger the event, the high the probability the secondary market exceeds it.
The secondary market has been there long enough and is big enough that who ever owns the primary, has to be thinking about how they can get a bigger piece of the secondary.
MLB for several years tried to contain it on a team by team basis. Each team made its own secondary exchange. Some used TicketMaster, some built their own applications and some used other third parties. There were many rules about how each exchange worked. At the end of the day, none of them worked very well. Whenever they tried to corral the secondary market, they could not. Starting in 2008, MLB made some changes. Most every team went along with Stubhub being the “official” exchange. This worked well for everyone. Many of the tickets were out there anyway. The tickets were out there because that is where the buyers were. The MLB teams just picked up a percentage of everything along the way. Essentially – MLB went to the market instead if trying to force the market to come to it. Saying they need to “authenticate the tickets” was not a good enough reason.
Now onto the NFL.
This last week the NFL announced they were creating a ticket exchange with TicketMaster so they could “authenticate the tickets and guarantee delivery". Couple this with the approach of some teams (New England Patriots) who revoked season ticket license of some fans who resold their tickets, this smells of the NFL trying to force the market to come to them.
Does anyone think this will work? It will stay this way for at least a couple of seasons. The sellers will go where the buyers are. The new marketplace cannot compete with the marketing and market-share dominance of eBay, Stubhub, TicketsNow and TicketDirect.
http://www.usatoday.com/sports/football/nfl/2008-08-06-secondary-tickets_N.htm
http://www.upi.com/Sports_News/2008/08/07/NFL_set_to_initiate_ticket_exchange_effort/UPI-94221218122295/
To learn more about becoming a ticket broker, please visit www.MyTicketBiz.com
Wednesday, August 13, 2008
Wednesday, August 6, 2008
Every Big Event...
As expected before every big ticket-based sporting event, people will run scams. News reports of people discovering they are not going to get their tickets are all over the place. Attorney Generals and lawyers specializing in class action lawsuits are running over each other to defend the abused. The sadder story will start next week when people arrive in China only to find out the physical tickets they have are fake.
Now many of the people who are not getting the tickets sent to them are more victims of stupidity of the seller than bad intentions. There is some number of people out there who double sold and did not do anything about it.
Overall, this is a black eye on the ticket aftermarket and there is very little we can do. Places like StubHub who have the “FanProtect” Guarantee come out looking good because they are protecting the consumer.
For the people who were fraudulent, they have a storm coming after them from all the lawyers and attorney generals.
http://www.beijingticketscam.com/
http://www.beijingticketscam.com/
http://www.kristv.com/Global/story.asp?S=8794075&nav=Bsmj
Now many of the people who are not getting the tickets sent to them are more victims of stupidity of the seller than bad intentions. There is some number of people out there who double sold and did not do anything about it.
Overall, this is a black eye on the ticket aftermarket and there is very little we can do. Places like StubHub who have the “FanProtect” Guarantee come out looking good because they are protecting the consumer.
For the people who were fraudulent, they have a storm coming after them from all the lawyers and attorney generals.
http://www.beijingticketscam.com/
http://www.beijingticketscam.com/
http://www.kristv.com/Global/story.asp?S=8794075&nav=Bsmj
Friday, July 25, 2008
Prepare now for the October Boom Cycle
October is one of the most profitable months for ticket brokers. To fully take advantage of the October busy season, ticket brokers need to prepare a few months ion advance.
Major league baseball playoff tickets are still one of the most accessible tickets to procure and the demand is still very high. Greg Cox, the COO of MyTicketBiz.com says “a shrewd ticket broker can enter baseball marketplace as late as August and still capitalize on the October boom. The hardcore fan does not start thinking out the playoffs until September. Simply by thinking a month or two ahead enables us to maximize profits with minimal risks”. Mr. Cox also states “October is one of several busy seasons. We teach people how to prepare for these seasons. The goal of being a successful ticket broker is to make decent profits in off-peak and prepare your self to capitalize on the peak. This makes maximum use of our time and capital.”
To learn more about becoming a ticket broker, please visit http://www.MyTicketBiz.com
Major league baseball playoff tickets are still one of the most accessible tickets to procure and the demand is still very high. Greg Cox, the COO of MyTicketBiz.com says “a shrewd ticket broker can enter baseball marketplace as late as August and still capitalize on the October boom. The hardcore fan does not start thinking out the playoffs until September. Simply by thinking a month or two ahead enables us to maximize profits with minimal risks”. Mr. Cox also states “October is one of several busy seasons. We teach people how to prepare for these seasons. The goal of being a successful ticket broker is to make decent profits in off-peak and prepare your self to capitalize on the peak. This makes maximum use of our time and capital.”
To learn more about becoming a ticket broker, please visit http://www.MyTicketBiz.com
Wednesday, July 23, 2008
Can’t wait for October 13th
Some might say this is one way to keep the enemy at bay. Others could say you this just shows how far behind you are.
Anyone who wants to buy a ticket for the Cardinals - Cowboys game on October 12th in Phoenix must also buy a ticket to the August 7th preseason opener against the New Orleans Saints. In the past whenever the Cowboys are in Phoenix, mobs of Dallas fans come to Phoenix essentially taking away the home field advantage. We suspect the thinking behind this is one of two things:
1) The Arizona brain trust is thinking we want to keep those dirty Dallas–folk in Dallas for the weekend.
2) The Arizona brain trust realizes the Dallas-folk do not care about the ticket prices and will buy the extra ticket just a easily as the first. This way they can make money on something they could not even give away before.
We hope it is #2. We can respect that a lot more.
Keep in mind, with the new Cowboy Stadium opening up, Mr. Jones has taken the PSL cost to a new level, charging up to $150,000 per seat. An that is just for the license, not the ticket. If his fan base is willing to pay that much for a license, the preseason ticket in Arizona might not seem like that big if a deal.
If anything else, it raises the awareness, and hence the demand, for a ticket to the October 12th game. Anyone who has a ticket ready to sell to that game can now make just a little bit more.
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
Anyone who wants to buy a ticket for the Cardinals - Cowboys game on October 12th in Phoenix must also buy a ticket to the August 7th preseason opener against the New Orleans Saints. In the past whenever the Cowboys are in Phoenix, mobs of Dallas fans come to Phoenix essentially taking away the home field advantage. We suspect the thinking behind this is one of two things:
1) The Arizona brain trust is thinking we want to keep those dirty Dallas–folk in Dallas for the weekend.
2) The Arizona brain trust realizes the Dallas-folk do not care about the ticket prices and will buy the extra ticket just a easily as the first. This way they can make money on something they could not even give away before.
We hope it is #2. We can respect that a lot more.
Keep in mind, with the new Cowboy Stadium opening up, Mr. Jones has taken the PSL cost to a new level, charging up to $150,000 per seat. An that is just for the license, not the ticket. If his fan base is willing to pay that much for a license, the preseason ticket in Arizona might not seem like that big if a deal.
If anything else, it raises the awareness, and hence the demand, for a ticket to the October 12th game. Anyone who has a ticket ready to sell to that game can now make just a little bit more.
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
Wednesday, July 16, 2008
Sticky Sweet and Green
In August Madonna will begin her Sticky and Sweet Tour. Early estimates are that the US portion could break $125. Total tour estimates are expected to be twice that. This should easily put her in the top 5 all-time US tour grosses.
1. The Rolling Stones "A Bigger Bang Tour" $162 million 2005
2. U2 "Vertigo Tour" $138.9 million 2005
3. The Rolling Stones "A Bigger Bang Tour" $138.5 million 2006
4. The Rolling Stones "Voodoo Loung Tour" $121.2 million 1994
5. Bruce Springsteen "The Rising Tour" $115.9 million 2003
6. U2 "Elevation Tour" $109.7 million 2001
7. Pink Floyd "Division Bell tour" $103.5 million 1994
8. Paul McCartney $103.3 million 2002
9. The Rolling Stones "Steel Wheels Tour" $98 million 1989
10. Barbara Streisand $92.5 million 2006
11. Tim McGraw / Faith Hill $88.8 million 2006
12. The Rolling Stones "Bridges To Babylon Tour" $89.3 million 1997
13. Madonna "Confessions Tour" $88,842,663
14. The Rolling Stones "Licks Tour" $87.9 million 2002
Concert tour grosses are a funny thing to calculate. Tours for the top acts spread to different countries and exactly how does ones agree on a standard conversion to US dollars for sales in Yen. Also, exactly how many Farewell tours did Cher have or was it just one long one? We will never really know and promoters will always try to pump up their numbers. Regardless, when a tour starts talking about $125M domestic and the tour is using the stadiums that pack in 40,000+ instead of the NBA style 18,000+, it is time to take notice.
Just in case anyone was wondering, The Hannah Montana Best of Both Worlds tour took in about $54M.
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
1. The Rolling Stones "A Bigger Bang Tour" $162 million 2005
2. U2 "Vertigo Tour" $138.9 million 2005
3. The Rolling Stones "A Bigger Bang Tour" $138.5 million 2006
4. The Rolling Stones "Voodoo Loung Tour" $121.2 million 1994
5. Bruce Springsteen "The Rising Tour" $115.9 million 2003
6. U2 "Elevation Tour" $109.7 million 2001
7. Pink Floyd "Division Bell tour" $103.5 million 1994
8. Paul McCartney $103.3 million 2002
9. The Rolling Stones "Steel Wheels Tour" $98 million 1989
10. Barbara Streisand $92.5 million 2006
11. Tim McGraw / Faith Hill $88.8 million 2006
12. The Rolling Stones "Bridges To Babylon Tour" $89.3 million 1997
13. Madonna "Confessions Tour" $88,842,663
14. The Rolling Stones "Licks Tour" $87.9 million 2002
Concert tour grosses are a funny thing to calculate. Tours for the top acts spread to different countries and exactly how does ones agree on a standard conversion to US dollars for sales in Yen. Also, exactly how many Farewell tours did Cher have or was it just one long one? We will never really know and promoters will always try to pump up their numbers. Regardless, when a tour starts talking about $125M domestic and the tour is using the stadiums that pack in 40,000+ instead of the NBA style 18,000+, it is time to take notice.
Just in case anyone was wondering, The Hannah Montana Best of Both Worlds tour took in about $54M.
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
Thursday, July 3, 2008
Hannah Montana When not If
Guess what is more profitable – an album or a tour? While both do well, the answer is tour hands down.
So if you had a highly successful tour in 2007, a movie coming out in 2008, a new album in 2008, what do you do in 2009? Another tour.
Miley Cyrus / Hannah Montana will bless us again with another tour in 2009. Anyone who was able to get tickets to any show in 2008 made out quite well. No reason to expect it would be any different in 2009. Lets just hope she stays away from Annie Leibovitz in the mean time.
If you have not become a member of the miley fan club, we encourage you to do so now. This was the only practical way to get tickets for the last tour.
So if you had a highly successful tour in 2007, a movie coming out in 2008, a new album in 2008, what do you do in 2009? Another tour.
Miley Cyrus / Hannah Montana will bless us again with another tour in 2009. Anyone who was able to get tickets to any show in 2008 made out quite well. No reason to expect it would be any different in 2009. Lets just hope she stays away from Annie Leibovitz in the mean time.
If you have not become a member of the miley fan club, we encourage you to do so now. This was the only practical way to get tickets for the last tour.
Wednesday, June 25, 2008
FanPrice.com – Something Different
There is an interesting new site that is taking a different position on the secondary ticket market. While soft launching in January 2008, Fanprice.com officially announced its launch over the Memorial Day weekend.
What is different about them is they are “Fan Focused”. A fan comes to them looking for the seats they want and makes an offer. It is up to the seller to decide whether or not to take it. This is different from Stubhub, Ticketsnow and the other sites in that they are all focused on what the seller will take. This is the concept in reverse.
Their ability to accept volume of tickets from a file is in beta right now. They can also accommodate e-tickets. The e-tickets can be transacted until game time.
When we asked them about their advantage in the marketplace the reply was:
“The advantage is that there is actual cash on the table for your consideration. As you are well aware, you never know for sure how a particular game or event will sell. Game values can change in a moment due to weather predictions, player injuries, etc. Similarly, artists can flood a market with additional shows decreasing ticket values or make a comment in the media that decreases their fan appeal. In the end, however, YOU control whether you accept an offer or not, so if the price isn’t to your liking, you don’t have to accept it. Knowing that you can lock in profit on a set of tickets without exposure to further risk of devaluation will allow sellers to move more inventory faster and increase the opportunity cost of the money they are making. We expect brokers will continue to use both types of sales strategies for their inventory and Fanprice will be another tool in their belt for them to move inventory. “
Fanprice.com is a very different concept and we always consider someone who is different to always have somewhat of an advantage.
They are not revealing yet what the marketing plans are or how they will get eyeballs over to their site. The ticket market is a crowded and expensive place to get eyeballs online. A company needs to be well-funded to make a presence online.
We do like the fact that a place like Fanprice.com does give us another option. The more options we have, the greater the chances of us making a buck and that is what it is all about.
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
What is different about them is they are “Fan Focused”. A fan comes to them looking for the seats they want and makes an offer. It is up to the seller to decide whether or not to take it. This is different from Stubhub, Ticketsnow and the other sites in that they are all focused on what the seller will take. This is the concept in reverse.
Their ability to accept volume of tickets from a file is in beta right now. They can also accommodate e-tickets. The e-tickets can be transacted until game time.
When we asked them about their advantage in the marketplace the reply was:
“The advantage is that there is actual cash on the table for your consideration. As you are well aware, you never know for sure how a particular game or event will sell. Game values can change in a moment due to weather predictions, player injuries, etc. Similarly, artists can flood a market with additional shows decreasing ticket values or make a comment in the media that decreases their fan appeal. In the end, however, YOU control whether you accept an offer or not, so if the price isn’t to your liking, you don’t have to accept it. Knowing that you can lock in profit on a set of tickets without exposure to further risk of devaluation will allow sellers to move more inventory faster and increase the opportunity cost of the money they are making. We expect brokers will continue to use both types of sales strategies for their inventory and Fanprice will be another tool in their belt for them to move inventory. “
Fanprice.com is a very different concept and we always consider someone who is different to always have somewhat of an advantage.
They are not revealing yet what the marketing plans are or how they will get eyeballs over to their site. The ticket market is a crowded and expensive place to get eyeballs online. A company needs to be well-funded to make a presence online.
We do like the fact that a place like Fanprice.com does give us another option. The more options we have, the greater the chances of us making a buck and that is what it is all about.
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
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