“I just want to see a concert that will probably break my bank!”
The ever-famous One Direction boyband sold out its concert tickets this summer for a whopping average of $600 per ticket for some of their shows, but thankfully, in certain areas you are still able to see them for just $50. Why the big price gap between different venues? With teenage girls being the biggest part of their fanbase, One Direction surely must emphatize with the difficulty for girls aged 12-19 to come up with such money at such short notice. But with the small portion of their decently priced tickets selling at such a fast rate (sometimes in under 5 minutes), the boyband and their management team sure are clever in knowing how to generate the $$$$$
The truth is, most of the One Direction fans are willing to pay for a pricier ticket to avoid having terrible seats that only allowed them to witness 5 singing ants on a tiny excuse of a stage. Therefore, taking this advantage, the fact that cheap tickets are limited has allowed this element of an increase in price to work in their favor. This is an act of price discrimination, which means setting a different set of prices for different market segments. In this case the market segments represented are those who buy the tickets at the early bird rate and those who don’t. Price discrimination happens all around the world, but recently with demand for a certain good increasing rapidly, managers of boy bands such as One Direction are beginning to cleverly take this into their advantage. The tickets for some magical reason all get sold out too – which means that although the price is set so high, the demand for it is still there, so it is a win-win situation.
http://www.forbes.com/sites/jesselawrence/2013/06/29/one-direction-tops-list-of-most-expensive-summer-concert-tickets/
This is a list of the most expensive concerts. Also from the website above.
Most Expensive Tours
| Tour | Avg Price | Cheapest Ticket/Venue |
| One Direction | $674.23 | $54/First Midwest Amphitheatre |
| The Rolling Stones | $637.50 | $159/TD Garden |
| Beyoncé | $358.97 | $35/Chesapeake Energy Center |
| Eagles | $312.25 | $57/Rexall Place |
| Pink | $299.90 | $52/Verizon Arena-Little Rock |
| Paul McCartney | $273.73 | $49/Safeco Field |
‘image One-Direction.jpg
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