What Percentage Does Ticketmaster Take on Resale?
Ticketmaster is a popular online platform that enables users to purchase tickets to various events. However, what many people might not know is that Ticketmaster also facilitates the resale of tickets by individuals who are unable to attend an event they had previously bought a ticket for. This begs the question, what percentage does Ticketmaster take on resale?
Before diving into the specifics, it is important to understand the concept of ticket resale. Ticket resale refers to the process of purchasing tickets from one party and then reselling them to another party at a higher price, often to make a profit. This practice is widespread and has been around for many years. In recent times, however, ticket resale has become more prevalent due to the growth of online ticket platforms such as Ticketmaster.
What is Ticketmaster Resale?
Ticketmaster resale enables ticket holders to sell their tickets on the Ticketmaster platform to other interested parties. The platform provides a safe and secure environment for ticket buyers and sellers to complete their transactions, ensuring that tickets are valid and authentic.
Ticketmaster resale allows sellers to set their prices, and Ticketmaster takes a percentage of the sale. However, the specific percentage that Ticketmaster takes on resale varies depending on a variety of factors, including the event, the location and the date of the event, and the seller’s pricing strategy.
How Much Does Ticketmaster Take on Resale?
According to the Ticketmaster website, the percentage that Ticketmaster takes on resale is generally between 10 and 20 percent of the total sale price. The specific percentage depends on the price the seller sets for their tickets and can be higher or lower based on pricing strategy, venue and event.
For example, if a ticket holder sets a price of $100 for a ticket they bought for $50, and the buyer purchases this ticket at that price, Ticketmaster will take a percentage of the sale, which in this case would be between $10 and $20.
Factors that Affect the Ticketmaster Resale Percentage
As previously mentioned, the Ticketmaster resale percentage can vary depending on a variety of factors. The following are some factors that can affect the percentage of the sale that Ticketmaster takes:
The type of event, the location of the event, and the date of the event can all affect the percentage that Ticketmaster takes. For instance, tickets to popular events with high demand, such as major sports games or concerts, may command higher resale prices, and in turn, Ticketmaster may take a higher percentage of the sale.
The Price Set by the Seller
The price that the ticket seller sets for the tickets is one of the most significant factors that can impact the Ticketmaster resale percentage. If the price set by the seller is high, it means Ticketmaster earns more, and the percentage that Ticketmaster takes can be lower. On the other hand, if the price set by the seller is low, Ticketmaster’s share may increase to compensate for the reduced revenue.
The venue where the event takes place can also influence the Ticketmaster resale percentage. For instance, if the venue has strict resale policies in place, it may be more challenging to resell tickets, and Ticketmaster’s percentage earned may be lower. In some cases, Ticketmaster may even not allow resale of tickets for certain venues, impacting the level of returns earned.
Overall, the percentage that Ticketmaster takes on resale of tickets depends on a variety of factors, including the event, the location of the event, and the seller’s pricing strategy. In general, Ticketmaster takes between 10 and 20 percent of the sale price. By understanding the factors that impact the percentage, sellers can improve the likelihood of a healthy return on resale and buyers can make informed decisions on pricing strategies.
It is also worth noting that Ticketmaster is not alone in charging commission on ticket resale. Other online ticketing platforms such as StubHub and SeatGeek also charge a percentage of the sale price as commission.
Overall, while the fees might seem high, Ticketmaster and similar ticketing platforms offer a convenient and secure way to buy and sell tickets. Their fees also ensure that the ticket buying process is regulated, and that ticket buyers and sellers are protected by their services.