Comments on: The dynamic economics of LCD Soundsystem tickets http://blogs.reuters.com/felix-salmon/2011/02/19/the-dynamic-economics-of-lcd-soundsystem-tickets/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: werdyo http://blogs.reuters.com/felix-salmon/2011/02/19/the-dynamic-economics-of-lcd-soundsystem-tickets/comment-page-1/#comment-24228 Wed, 23 Feb 2011 00:16:00 +0000 http://blogs.reuters.com/felix-salmon/?p=7385#comment-24228 wow. tons and tons of conjecture, in the article and comments alike. basically all hot air here. why, people, why?

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By: Jetty http://blogs.reuters.com/felix-salmon/2011/02/19/the-dynamic-economics-of-lcd-soundsystem-tickets/comment-page-1/#comment-24181 Mon, 21 Feb 2011 20:36:16 +0000 http://blogs.reuters.com/felix-salmon/?p=7385#comment-24181 Limebeck, there are 840 tickets on stubhub alone right now. Couple that with the hundreds on ebay and that has to be well over 1000 to buy online right now.

However I disagree, you can alway compare last shows to other shows. It’s pretty easy to do just that. You’d have to imagine less than 1% of attendees will be flying in for a final show…let’s say on the high end 5%, it still seems unlikely that everyone who has seen this band ever in the NYC area will buy a ticket to fill out a venue more than 4x the size of T5.

And promoters always hold tickets back, always. The question in this case is how many the promoter held back.

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By: Limbeck http://blogs.reuters.com/felix-salmon/2011/02/19/the-dynamic-economics-of-lcd-soundsystem-tickets/comment-page-1/#comment-24180 Mon, 21 Feb 2011 20:20:22 +0000 http://blogs.reuters.com/felix-salmon/?p=7385#comment-24180 Let me preface this comment with two things: first of all, I am a ticket broker. I am not a scalper. I have been in the ticket industry for the better part of a decade, have an office and pay my taxes just like any other small business. I also happen to be a fan of LCD Soundsystem since the beginning and have seen him several times live.

With that said, anybody that thinks this is a “conspiracy” by James obviously does not have a grasp on how the ticket industry works as a whole. Furthermore, James’ entire rant, while I understand he was frustrated, was just absolutely ridiculous.

The truth of the matter is that there are about 4,000 active ticket brokers in the country, give or take a few hundred. Of those 4,000 brokers there are maybe less than 50 that actually have “bots” or automated computer programs that give them any sort of advantage when tickets go on sale to a popular live event. The media and artists love to talk about these programs like they are common, when in reality, they cost tens of thousands of dollars and are only owed by large brokers who have 7 figures to throw around freely without thinking twice. The rest of us buy tickets just like any other fan when onsales or pre-sales go live; we are just usually a little bit better at it because we buy tickets every single day multiples times a day whereas the average fan buys tickets to a popular event maybe once or twice a year.

In his rant, it is obvious that James of LCD Soundsystem does not understand tickets or how the industry works by saying things like “MSG holds 50,000 tickets but they are only having 13,000 seats available for our show.” I have no idea what planet he is living on, but at it’s FULLEST capacity, MSG holds 18,000 people. So if you have a public on-sale for a popular artist and each person buys an average of 2 tickets, that is 9,000 people buying 2 tickets when the event goes live. Seeing as how this was advertised heavily as James’ last show ever as LCD Soundsystem, I am sure fans from across the country and across the world made plans to be at this show. It does not surprise me at all that this sold out as quickly as it did, as LCD appeals to the hipster audience from 18-35, most of which have the money to travel to NYC for a show like this. This is not a regular New York show so you cannot compare it to any previous shows that LCD has done in NYC or otherwise. It is a LAST show. And people bought tickets at the rate of which it did because it was a last show.

Lastly, the MOST number of tickets that have been on the re-sale market for this show has not exceeded 400. And that is combining every broker’s tickets that they have listed across the country. 95% of the tickets on Stubhub are from brokers (SH does not actually hold tickets, they are just a marketplace) so that is included in that figure. So if James or any pissed off fan wants to sit around and blame brokers for selling this show out, they can. But the fact of the matter is that about 5% of the tickets were bought with the specific intent to re-sell them. The rest of the ticket sales, assuming none of the tickets were held back for any reason, went to dedicated fans across the world willing and ready to travel to see an artist they love play a final show at the most famous arena in the world.

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By: SamuelAAdams http://blogs.reuters.com/felix-salmon/2011/02/19/the-dynamic-economics-of-lcd-soundsystem-tickets/comment-page-1/#comment-24179 Mon, 21 Feb 2011 20:07:18 +0000 http://blogs.reuters.com/felix-salmon/?p=7385#comment-24179 Wow. What a fascinating theory to present without a shred of supporting evidence . Whether or not it’s possible to sell out 13,000 tickets in a few minutes is irrelevant, because they didn’t. What you might realize if you did a shred of research was that not all tickets were on sale to the general public. I bought mine more than 15 minutes after sale began from the sections reserved for Amex customers, and I got floor seats. (Back of the floor, but still.) Then again, maybe I’m PART OF THE CONSPIRACY and I just don’t know it.

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By: doriantaylor http://blogs.reuters.com/felix-salmon/2011/02/19/the-dynamic-economics-of-lcd-soundsystem-tickets/comment-page-1/#comment-24178 Mon, 21 Feb 2011 18:43:11 +0000 http://blogs.reuters.com/felix-salmon/?p=7385#comment-24178 It would be interesting to see a Vickrey/OpenIPO/AdWords-style auction of concert tickets.

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By: Jetty http://blogs.reuters.com/felix-salmon/2011/02/19/the-dynamic-economics-of-lcd-soundsystem-tickets/comment-page-1/#comment-24177 Mon, 21 Feb 2011 17:49:19 +0000 http://blogs.reuters.com/felix-salmon/?p=7385#comment-24177 Oh and if BP is in fact holding back thousands of tickets they are going to be stuck, those tix aren’t really tearing up ebay.

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By: Jetty http://blogs.reuters.com/felix-salmon/2011/02/19/the-dynamic-economics-of-lcd-soundsystem-tickets/comment-page-1/#comment-24176 Mon, 21 Feb 2011 17:39:12 +0000 http://blogs.reuters.com/felix-salmon/?p=7385#comment-24176 Interesting theory, you should point out that Bowrey Presents is the promoter for both the MSG and T5 shows (they aren’t the promoter for all LCD shows) which makes this theory more viable.

More interesting, on The Bowrey Presents’ own web site the MSG show is not showing as sold out even though a ticketmaster search reflects that no tickets are available.

However, this begs a larger question…Let’s say assuming LCD can sell out Terminal 5 which isn’t a strecth. Can they sell out T5 4 times over and fill MSG? That has to assume every fan in the NYC area who has ever had interest in seeing them is going to attend the MSG show. If not, how many tickets is BP holding back? It would have to be thousands, 3K? 4K? 5K? Then how the hell do they sell all of those tickets? There are about 850 on stubhub right now, it would be difficult to sell thousands of tickets for this event in a span of 5 weeks. If they don’t they’ll take a significant loss on the MSG shows thus making the T5 shows a wash.

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By: MattF http://blogs.reuters.com/felix-salmon/2011/02/19/the-dynamic-economics-of-lcd-soundsystem-tickets/comment-page-1/#comment-24169 Sun, 20 Feb 2011 17:06:22 +0000 http://blogs.reuters.com/felix-salmon/?p=7385#comment-24169 So, ahhh… this “LCD Soundsystem” is some sort of musical ensemble?

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By: johnhhaskell http://blogs.reuters.com/felix-salmon/2011/02/19/the-dynamic-economics-of-lcd-soundsystem-tickets/comment-page-1/#comment-24164 Sun, 20 Feb 2011 11:30:14 +0000 http://blogs.reuters.com/felix-salmon/?p=7385#comment-24164 as far as I can see, every single point in JDIBD’s comment strengthens the conspiracy theory. The last LCS shows sold for $35-$70, Terminal 5 is frequently dark, the frontman lies a lot. the only possibly “anti” argument is that it took time to get the t5 shows organized, which is of course entirely within the control of the promoter and the band.

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By: FelixSalmon http://blogs.reuters.com/felix-salmon/2011/02/19/the-dynamic-economics-of-lcd-soundsystem-tickets/comment-page-1/#comment-24159 Sat, 19 Feb 2011 23:21:29 +0000 http://blogs.reuters.com/felix-salmon/?p=7385#comment-24159 JDIBD, great comment!

Agree with you on sound quality at Terminal 5. The same is true of sightlines. And location. And door management. And everything really. I have a theory that the opening of Terminal 5 marked the point at which Bowery Presents officially became evil. But I do still love Bowery Ballroom.

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