Published on January 29th, 2018 | by Alan Cross1
How does the secondary market for concert tickets work? Glad you asked
[This is the third of three articles I wrote for Global News on the difficulties and frustrations of buying concert tickets, – AC]
There’s no such thing as a sold-out show. You can always find tickets if you know where to look, and if you’re willing to pay the price.
While the world buys up an estimated US$30 billion in concert tickets annually (we call this the primary market), the secondary market (where tickets purchased at face value can be found at markups many multiples of their original price) is worth at least US$8 billion globally. That means there’s a lot of scalping going on, ranging from big companies like StubHub to small-time players shouting “Who wants tickets?” outside a venue.
Here are five things that help explain what’s going on.