Are ticket resellers really saving fans money? The numbers don’t add up
A new report claims resale tickets saved music fans $194 million last year, but that might not really be the case.
A fresh 2024 Ticket Resale Savings Report from Protect Ticket Rights claims music fans bagged a total of $194 million in savings on resale tickets in 2024, 47% of the total savings of $414 million for all ticket buyers.
According to the report, 4.4 million tickets were sold under their original face value last year. California topped the list in the US with 1.3 million tickets sold below cost and allegedly saved fans $50 million. New York followed with 833,160 tickets and savings of $36 million. Outside the US, 451,678 tickets below original cost saved fans $15 million.
When it comes to music concerts, fans saved an average of $44.23 per ticket.
The small print
The report boasts that the resell market “gives fans a chance to find cheaper tickets”. However, it fails to paint the full picture behind the methodology. As Bruce Houghton at Hypebot puts it, the data for the report appears to be chosen selectively.
Here’s the catch: the data only covers the 186,113 tickets that analytics firm Automatiq had records for. This “includes the total number of tickets sold below cost, the total amount saved by fans, [and] the average savings per ticket”. That’s a drop in the ocean compared to the 65 million tickets Live Nation had already sold by February this year, and the record-breaking revenues the company achieved in 2024.
Not to mention, the report also comes from Protect Ticket Rights who is a branch of the National Association of Ticket Brokers (NATB) – a trade group that represents and is funded by ticket resellers. Automatiq, the firm providing the data for the report, is also a sponsor of the NATB.
The real issue
Yes, some fans may genuinely get cheaper resale tickets. But, we all know the real problem. Ticket resellers often inflate prices far above face value.
The UK’s Competition and Markets Authority (CMA) has found resale markups are often over 50%. In one instance, the UK’s government even found a £50 ticket for an Olivia Rodrigo ticket listed for £2,573. That’s a 5,146% markup.
In fact, a Virgin Media O2 study estimated that inflated resale prices actually cost music fans around £145 million every year. That’s a very different headline.
The push for change
Earlier this year, the UK government launched a consultation to tackle what it called “greedy ticket touts”, sparked by fan outrage at the dynamic pricing used for tickets to Oasis’ reunion tour. The plan? Cap resale prices at a fixed percentage above the original ticket price.
The CMA backs the move, and could make tickets more affordable for fans without requiring them to pay highly excessive prices. Meanwhile, it could also set an example for other markets worldwide.
Bottom line
The Ticket Savings Report indicates fans are saving millions thanks to resale tickets. However, the truth is far more complicated. Sure, some lucky buyers may pay less on resale, but the industry norm still sees tickets sold at eye-watering markups.
So, are fans really winning here? With the UK looking to implement regulation to restrict unfair reselling practices, it doesn’t look like it.