Comparison of average selling prices for single-day festival tickets
Festivals tend be a great deal because you get a lot of bang for your buck. While they typically cost more than a single concert, you get access to a wide array of artists. More, in fact, than you could possibly fit into a two-, three-, or four-day schedule. Some festivals have a more limited selection, but for a few hundred dollars you still get a lot of music.
Then major exception, at least on TicketNetwork.com, is the iHeartRadio Music Festival, which started up last year. The current average selling price for iHeartRadio on TicketNetwork.com is a whopping $954, which is far above the price of any other festival held this year. In comparison, the Bayou Country Superfest — a similarly-sized festival held in May — had an average selling price of $154 for single-day passes. Meanwhile, festivals with a much larger selection often have lower prices, such as the recently held Lollapalooza, which on TicketNetwork.com had an average price of $184 for single-day tickets.
Why such a high average selling price, when all the rest have much lower prices? Part of the answer is location. It's in Vegas, and many events held in hotels on The Strip are more expensive than the same events held elsewhere. But that can't be everything. The other part of the answer might be very high anticipated demand. With such an all-star lineup, tickets were seen as likely to sell out quickly, and were priced accordingly.
Well, it turns out demand may not be quite as high as sellers expected, even with the great lineup. When I last looked two weeks ago, the average selling price for the festival was over $1200, and now it's nearly $250 less. So, as the dates draw closer, prices may continue to drop as sellers look to offload their inventory. That's good news for people that still want tickets, as it means prices could be lower closer to the show.
The iHeartRadio Festival will be held September 23 and 24 and feature artists and bands such as Taylor Swift, Jason Aldean, Aerosmith, Rihanna, Usher, Pitbull, and Green Day.
Average selling prices are as of 8/23/12 10:00 AM EDT. Prices are not set by TicketNetwork.com and are may fluctuate based on market demand. Any trademarks remain the property of their respective owners; the appearance of trademarked terms does not indicate any association with TicketNetwork.com or TicketNetwork, Inc.