"Prince will be continuing his “Welcome 2 America” residency style tour with a gigantic stand of 21 nights
at the Forum in Los Angeles, starting April 14."
MP: Increasing the supply of concert tickets to satisfy fan demand is one market-based solution to reduce or eliminate the secondary market for re-selling tickets above face value. The L.A. Forum seats about 17,000, so Prince is supplying more than 350,000 tickets for his 21 shows. If that's not enough to satisfy demand, he can keep adding shows. There is also a wide range of ticket prices starting at $25 and going up to $425, which is another market-based, approach to help achieve "concert equilibrium," similar to the dynamic approach of airline ticket pricing.
: For Prince's final shows next weekend at the L.A. Forum, there are plenty of tickets available from Ticketmaster
at face value, and almost 1,700 ticket available at StubHub!
starting at $45 (not sure how that compares to face value) and thousands more at SeatGeek
starting at $55.
Just to clarify, I'm not against ticket scalping. The strongest opponents of ticket scalping are usually musicians and their managers, concert promoters, and venue owners. Ironically, it's those very critics of ticket scalping who have the power to reduce or eliminate ticket scalping by: a) raising ticket prices and/or b) increasing the number of tickets available for sale. By offering 350,000 tickets for sale in L.A., some at very high prices, Prince may have successfully reduced, or largely eliminated, ticket scalping for his shows. I applaud Prince's approach and suggest that it become a model for other musicians.