Oct 27, 2024

Question of the Day: What percent of the total price paid for concert tickets on Ticketmaster is made up of fees?

Are you fed up with fees?

Answer:

28% on average. This means that two $100 tickets would cost $256 instead of the $200 face value of the tickets.

Questions:

  • Do you think the fees Ticketmaster charges are fair? Why or why not?
  • How might artists benefit or lose out because of these ticket fees?
  • Should there be regulations on how much companies can charge in fees for events?

 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

 

Behind the Numbers (The Hustle):

Ticketmaster can also collect fees on multiple transactions because of its controversial secondary sales market. The gross for fees on its secondary market was up 132% in Q3 compared to the same time period in 2019. 

The Hustle surveyed 606 people about their experiences with Ticketmaster; 601 (99.2%) said they believed its fees were too high. When we analyzed fees on 40 tickets to recent concerts, including the Eras Tour, the average fees took up ~28% of a ticket’s face value.

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About the Author

Dave Martin

Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master's degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.

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