Why Are Coldplay Tickets So Expensive on Ticketmaster?
Whether you are an ardent fan of the veteran British band Coldplay or have just recently become one, you might have noticed that ticket prices for their shows are quite high. As the group is set to embark on its latest tour, fans all around the world are wondering why Coldplay tickets are so expensive on Ticketmaster. In this blog post, we will explore the reasons why Coldplay tickets are priced high on Ticketmaster and other ticketing platforms.
The Law of Supply and Demand
One of the primary reasons why Coldplay tickets are expensive on Ticketmaster is simple economics – the law of supply and demand. There is a high demand for tickets to Coldplay’s shows, and this drives up the prices. When supply is low and demand is high, prices increase.Additionally, Ticketmaster is a reputable platform, and the most popular one, for selling tickets to live shows, sporting events, and other entertainment events. They have a near-monopoly over live event ticket sales, which means they have the power to set prices as they see fit.
Ticket Scalpers and Resellers
Another factor driving up Coldplay ticket prices is scalpers and resellers. These are people who purchase tickets at face value or lower and then resell them on secondary platforms such as StubHub, Viagogo, or other re-sellers for a much higher amount. In most cases, these individuals are not fans of Coldplay but are instead looking to make a profit by scalping tickets. They employ sophisticated software systems, bots, and other methods to buy tickets as soon as they are released, often clearing out entire sections within seconds.As a result, the scarcity of tickets causes those who missed out on purchasing tickets to pay at a premium to attend the show. Secondary platforms such as StubHub and Viagogo enable these scalpers to make huge profits, which in turn makes Coldplay tickets even more expensive.
Ticketmaster, like any other ticketing platform, tacks on fees to the cost of tickets. These fees, which can amount to 15% or more of the ticket price, are unavoidable, and they are not included in the initial advertised price. For example, if a Coldplay ticket is priced at $100, after all the fees and surcharges, the final price can be as much as $120 or more.The fees charged by Ticketmaster include service fees, facility fees, and delivery fees. These fees are a way for Ticketmaster to cover its operating costs and make a profit. Although these fees seem small when buying one or two tickets, for large groups or big events, they can add up to a significant sum.
In conclusion, the high price of Coldplay tickets on Ticketmaster is due to a combination of factors, including market demand, ticket scalping, and fees charged by Ticketmaster. These factors all contribute to making live entertainment more expensive for the average consumer. Nonetheless, it is essential to note that Coldplay tickets are relatively expensive to produce, especially those concerts held in large venues with various technical aspects.Considering this, the band has no control over what prices the tickets are sold, but the prices must be sufficiently high to allow the band, its crew, and the ticket vendor to make a living. Therefore, the next time you try to purchase Coldplay tickets on tickets should know what is contributing to the increase in ticket prices on Ticketmaster and other secondary platforms.