05 June, 2016

Why You Can’t Get a Ticket to the NBA Finals … — The Ringer

Why You Can’t Get a Ticket to the NBA Finals … — The Ringer: "
So the biggest artists sign contracts that guarantee them money every time they step on the stage, and that guaranteed amount is usually more than 100 percent of the revenue if every ticket is sold at face value. Which means that if every ticket in the venue “sells out” at the face value printed on the ticket, that wouldn’t be enough to pay the artist what they are contractually guaranteed by the promoter for the performance.

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How does the promoter make up the difference? You guessed it: by selling some of the best seats directly in the secondary market, so that artists don’t get flack from you for pricing them high right out of the gate. That means the artist is either directly complicit, or that the artist is taking a massive check for the performance while looking the other way."

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