The Future. Taylor Swift’s Eras Tour, which sees Swift pulling in over $10 million a night (slowly becoming the best-selling tour of all time), has fans scrambling by any means necessary to get their hands on tickets. But with thousands of people posting up in parking lots to listen to a concert because the 70,000-seater stadium is sold out, the truth may be that there is currently no venue big enough to meet the demand of a Swift show.
“You’re On Your Own, Kid”
Of the 14 million people who tried to purchase Swift tickets on Ticketmaster, most came up short… so they’ve gone through some alternative routes to score them.
- On resale sites like StubHub and SeatGeek, tickets are going for a starting price of $1,000 — some of which were originally purchased for as low as $49.
- When those sites don’t work, fans try private Facebook or Twitter groups that match up buyers and sellers — one Twitter account even gets 2,000 replies per ticket offering.
And with the prices so high, some are bartering in unique ways to pay for the tickets, like the lady who offered the use of her $4,000/day wedding venue in Idaho or the pizza-shop owner in Louisiana who offered free pizza for a year in exchange for tickets.
According to Bloomberg, the Eras Tour may be the perfect demonstration of the economic concept of “inelasticity” — no matter how high the price of a good or service rises, the demand will remain the same.