Chapter 15: Ticketing the Show
What percentage of tickets are sold at a discounted price?
10-20%.
Venue Royalties:
Costs added to the ticket price and paid to the venue.
What are the disadvantages of hard ticketing?
(1) Limited channels of distribution, (2) Inventory control is a hassle, and (3) Physical deadwood.
What are the advantages of soft ticketing?
(1) System deadwood, but not physical deadwood, (2) No advance printing is necessary, and (3) Unlimited channels of distribution.
What are the advantages of hard ticketing?
(1) Talent buyer can design tickets and include back-print ads, (2) Anti-counterfeiting techniques, and (3) Keep income from back-printing ads.
What are the disadvantages of soft ticketing?
(1) Ticket buyers dislike convenience fees and (2) Require more complicated communication.
What percentage of the prime seats--the first fifteen rows--are sold through the secondary market?
50%.
What percentage of the tickets in the U.S. remain unsold?
50%.
Describe the entrepreneurs who started Ticketmaster:
Albert Leffler and Peter Gadwa were students at Arizona State University; Gordon Gunn was a Phoenix-area businessman.
What is meant by ticket auction?
An application of dynamic pricing that allows ticket buyers to bid for the best price on tickets.
What company merged with Ticketmaster in 2009?
Live Nation.
Anti-Counterfeiting:
Methods to protect against the creation of fake tickets, such as raised print, UV print, safety stock, and holograms.
Presales:
Opportunities for preferred customers to purchase tickets before the general public.
What percentage of tickets are sold on the secondary market worldwide?
Over 50%.
Explain who owns the data from ticket sales:
The data is primarily owned by the venue, but is shared with the ticketing company for marketing purposes.
Describe what "lift" means regarding tickets:
The difference between face value and final purchase price of a ticket.
Secondary Markets:
The reselling of tickets.
Dynamic Pricing:
Ticket auctions.
What was the dominant soft ticketing company before Ticketmaster began to dominate?
Ticketron.
