BusinessWeek profiles the most expensive concerts this summer.
This interesting article not only lists the hottest tickets this year, it also explores some of the mechanics of how ticket prices are set. They quote Sam Craig, the director of the media & entertainment program at NYU's Stern School of Business,
"The sky is not the limit, it is about getting demand and supply in equilibrium."
According to the article, Ticketmaster and other ticket outlets have a system for gauging ticket value: they are letting customers bid by seat. This is supposed to keep the bidding out of the hands of scalpers, but it doesn't mean the tickets are going to be any cheaper. If anything I think it is just moving the scalping business onto the internet.
Full article here
Wednesday, May 17, 2006
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