October 22, 2019

Face Value – An Antiquated Concept

It’s no surprise that tickets are often sold on secondary sites for less than through primary sales. It’s one of the many reasons a competitive secondary market benefits fans. As the live event ticket industry evolves, it’s clear the prevalent use of “Official Platinum Seats” and dynamic pricing exemplifies the notion that “face value” is a thing of the past. Artists have the right to price their tickets accordingly, and consumers should share that same right when reselling tickets they can no longer use. What’s missing in today’s industry is transparency on how many tickets are originally sold to the public, when, and at what price so that consumers understand on-sale practices and can make fully informed purchasing decisions. This article by Mark McGivern of the Daily Record illustrates the issue.