Post by The Other One on Apr 5, 2022 14:14:06 GMT -5
I cannot guarantee the validity of this statement but it makes sense, plus I saw in on FB so it must be true...
Alright. Let me shed some light on pre-sale. I worked in Marketing for Live Nation for 8 years. Here's the truth...
1.) "Verified fan." It doesn't exist. Pre-sale has nothing to do with ensuring only fans get tickets. What it does is establishes the value. When you register, the system scans your account to see what tickets you have purchased. New account? 5% chance of getting in. Only ever bought lawn? 30% chance. Bought floor? 70% chance. VIP or platinum? 100% chance. It comes down to ability to spend. Not if you are a fan. This is important because YOU are the control group. You set the initial price in the dynamic pricing.
2.) The control group. There is no such thing as Face Value in pre sale. It is based on dynamic pricing. Each venue is gauged to see what the average spend on tickets is. In the old days, the average between highest and lowest set the face value. Now, pre sale does. It is an active system that watches in real time how many sales are closed vs how many people enter the pre-sale. 70% close ratio is the target. If it averages 100% close ratio, ticket prices increase. If it is lower than 70%, the pricing decreases. This will fluctuate until the 70% is a flatline. So if you are seeing pricing the same now as you did 2 hours ago, it's because the system has flatlined at 70%.
3.) The timing. The 2 to 5 minutes you have to close the deal has nothing to do with released tickets and everything to do with allowing this system to adapt to the trend.
4.) If you are one of the first 500 people to purchase you are ABSOLUTELY paying anywhere from 20 to 60% more for the exact same tickets as the last 500.
5.) No. It absolutely does not matter whether you are buying lawn seats or platinum VIP. It's ALL part of the charade.
6.) Dead & Co has absolutely nothing to do with this. It's a monopoly as set by live Nation and bands have zero control of it.
7.) Over half of the well known resale sites are owned by the same shareholders of Live Nation. They double dip. It's how it works.
Stop buying into pre-sale and you will see prices become reasonable again.
Alright. Let me shed some light on pre-sale. I worked in Marketing for Live Nation for 8 years. Here's the truth...
1.) "Verified fan." It doesn't exist. Pre-sale has nothing to do with ensuring only fans get tickets. What it does is establishes the value. When you register, the system scans your account to see what tickets you have purchased. New account? 5% chance of getting in. Only ever bought lawn? 30% chance. Bought floor? 70% chance. VIP or platinum? 100% chance. It comes down to ability to spend. Not if you are a fan. This is important because YOU are the control group. You set the initial price in the dynamic pricing.
2.) The control group. There is no such thing as Face Value in pre sale. It is based on dynamic pricing. Each venue is gauged to see what the average spend on tickets is. In the old days, the average between highest and lowest set the face value. Now, pre sale does. It is an active system that watches in real time how many sales are closed vs how many people enter the pre-sale. 70% close ratio is the target. If it averages 100% close ratio, ticket prices increase. If it is lower than 70%, the pricing decreases. This will fluctuate until the 70% is a flatline. So if you are seeing pricing the same now as you did 2 hours ago, it's because the system has flatlined at 70%.
3.) The timing. The 2 to 5 minutes you have to close the deal has nothing to do with released tickets and everything to do with allowing this system to adapt to the trend.
4.) If you are one of the first 500 people to purchase you are ABSOLUTELY paying anywhere from 20 to 60% more for the exact same tickets as the last 500.
5.) No. It absolutely does not matter whether you are buying lawn seats or platinum VIP. It's ALL part of the charade.
6.) Dead & Co has absolutely nothing to do with this. It's a monopoly as set by live Nation and bands have zero control of it.
7.) Over half of the well known resale sites are owned by the same shareholders of Live Nation. They double dip. It's how it works.
Stop buying into pre-sale and you will see prices become reasonable again.
