Can you Make Money on Ticketmaster?
When it comes to purchasing tickets for concerts, sports events, or any other live entertainment, most people turn to Ticketmaster, which is one of the largest online ticket marketplaces. With their easy-to-use platform and vast selection of events, buying tickets has never been easier. However, many people wonder if it is possible to make money on Ticketmaster. In this article, we will explore that question and provide some helpful tips on how to make the most of your experience using the platform.
The Ticketmaster Marketplace
Ticketmaster is a ticket distribution company that operates globally, providing ticketing services for events across music, sports, arts, and theatre. They connect fans with event organizers and provide a safe and secure marketplace for tickets. Ticketmaster sells tickets at face value, which means that the tickets are sold at the price set by the event organizers. This means that, as a buyer, you cannot make a profit by selling tickets at a higher price. As a seller on Ticketmaster, you can sell your tickets at face value but adding a fee as a “seller fee.” This fee is typically around 10% of the ticket price, and it is paid by the buyer. This means that, as a seller, you can get back the money you spent on the tickets plus a little extra to cover the selling fees. This is known as “breaking even” or making a small profit.
How to Make Money on Ticketmaster
While you cannot make a significant profit on Ticketmaster as a buyer, there are still some ways to make money on the platform. Here is how you can do it:
1. Buy Tickets for In-Demand Shows and Resell Them on the Secondary Market
One of the most effective ways to make money on Ticketmaster is to buy tickets for in-demand shows and resell them on the secondary market. This strategy requires a little bit of research and some luck, but it is entirely possible to make a profit this way. The first thing you need to do is figure out which events are in high demand. You can check the resale prices and the ticket availability of events on websites like SeatGeek and StubHub. Once you have identified an event, try to purchase tickets on Ticketmaster as soon as they are released. After you have purchased the tickets, list them for sale on the secondary market at a higher price than what you paid for them. This strategy works best for events that are likely to sell out quickly or for events where tickets have limited availability.
2. Sell Tickets for Friends and Family
Another way to make money on Ticketmaster is to sell tickets for friends and family. If you have a group of friends or family members looking to attend an event, you can purchase tickets on Ticketmaster and then sell the tickets to them at a slightly higher price. This can help you break even or make a small profit.
3. Upgrade Tickets and Resell Them
If you have already purchased tickets for an event but then find better seats, you can upgrade your tickets and resell the original ones. Ticketmaster allows you to upgrade your tickets up until the day of the event, so this strategy can work well if you are familiar with the seating chart and have some flexibility on the day of the show.
Things to Consider Before Selling Tickets on Ticketmaster
Before you start selling tickets on Ticketmaster, there are a few things you should keep in mind.
1. Ticketmaster’s Policies and Restrictions
Ticketmaster has strict policies and restrictions on ticket resale, and they prohibit the use of bots or other automated means to purchase tickets. If you violate these policies, your account may be suspended or terminated.
2. Ticket Scalping Laws
Ticket scalping, which involves reselling tickets above face value, is illegal in some states and countries. Make sure to familiarize yourself with the laws in your area before attempting to sell tickets at a higher price.
3. The Potential for Losses
While it is possible to make money on Ticketmaster, there is also the potential for losses. If the event does not sell out, or if you are unable to sell your tickets, then you may lose money on the transaction.
Summary
In conclusion, it is possible to make money on Ticketmaster, but it requires some knowledge and strategy. Buying tickets for in-demand shows and reselling them on the secondary market is one of the most effective ways to make a profit. However, you should be aware of Ticketmaster’s policies and restrictions and the potential for losses before attempting to sell tickets on the platform. By following these guidelines, you can make the most of your Ticketmaster experience and potentially make some money as well.