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Pricing

Tonight’s Game Perhaps the Most Expensive Baseball Game Ever

Tonight, the Boston Red Sox play the St. Louis Cardinals at Boston’s Fenway Park, and some of the people I trust to evaluate the true value of the tickets in the secondary market are suggesting that it’s getting pretty crazy. Jeff Passan at Yahoo brings it together here.Here’s the key tidbit:“By early afternoon, the average resale price for tickets sold stood at $1,024 per ticket, according to SeatGeek. Remaining ticket inventory on Internet sites was even heftier: an average...

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Pricing

How Not to Discount: Part II

Don't discount at the last minute only.This one’s pretty simple. The second bad way to discount is to wait until the last minute, and then do it in a panic.Why is this a bad idea? First, you’ve narrowed your options considerably. When venues come to us the day or two before a show and say they’d like to discount, we typically can’t help them, and we’re fast! But the fact is that we, like every big website, have a...

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Pricing

How Not To Discount: Part I

Don't discount to your full-price channel too much.At Goldstar, we believe strongly that when done well, discounting (not just through Goldstar) is highly beneficial for venues. I’m going to talk about several ways you should not discount and why. Here’s the first way you shouldn’t discount, and it’s a doozy.When you make your full-price buyers the primary target of your discount promotions, you’re making a big mistake. I’m not saying you should never put a discount out to your...

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Pricing

Brainwaves Show What People REALLY Think of Prices

Is Your Coffee too Cheap? Using Brainwaves to Test Prices.This is an interesting read about a German scientist who is experimenting with the brainwaves of people who are looking at different prices for Starbucks coffee. The specifics are not as important here as an idea that I REALLY want you to understand:Price is one of the most powerful tools in a live entertainment marketer's toolkit, and it can't be a hostage of your ego or your "gut."The reason for this...

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Pricing

Consider Pricing Simplicity to Avoid Lost Sales

Live Nation wins a lawsuit that was, frankly, a little nutty to begin with. The plaintiff’s claim is that, as a monopolist, Live Nation charged service fees that caused him damages and, therefore, LN should be forced to have an ‘all-in’ pricing model. The judge said, rightly, that the claim of a monopoly was irrelevant, and that whether the fees are added or part of the ‘all-in’ price, the plaintiff would be paying the same and, therefore, there were...

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Pricing

Louis C.K. & Kid Rock: Are they “generous” to their fans?

Both Louis C.K. and Kid Rock have gotten attention in the last year for charging much less than market value for tickets to their shows. In Kid Rock’s case, tickets are just $20 for this summer’s tour, and in both cases, shows sold out extremely quickly as a result of the pricing, and, I would add, the massive publicity about the pricing.So, are they being “generous” to their fans with these low prices, as some feel, or do they,...

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