Having unsold concert tickets can be a frustrating situation for both concert promoters and fans. As a concert promoter, unsold tickets represent lost revenue and signal that your marketing and promotions may need rethinking. For fans, it means missing out on seeing their favorite artist perform live.
There are several factors that can lead to poor concert ticket sales including high ticket prices, weak promotions, oversaturation of shows in a market, and competition from other big events happening around the same time. Planning a successful concert tour is incredibly complex with many moving parts. Even the most seasoned promoters can sometimes misjudge demand and be left holding unsold tickets.
So what can be done to minimize unsold tickets? And once you do have empty seats, what are some creative ways to fill them? Here we’ll explore some strategies promoters use to optimize ticket sales and recoup some revenue from unsold inventory.
Key Strategies to Minimize Unsold Tickets
There are some core strategies promoters can employ to give their concert the best chance of selling out:
– Price tickets strategically. Don’t set prices arbitrarily high or low. Do comparative research on similar shows in the market and price accordingly. Offer tiered pricing for better and worse seats. Consider dynamic pricing where prices start low and rise as show date nears.
– Promote aggressively across multiple channels. Advertise online, on radio, TV, billboards, email, social media, etc. Target marketing to core fan demographics.
– Monitor sales data closely. If some ticket tiers are selling faster than others, adjust pricing. Add second shows if demand exceeds venue capacity.
– Offer pre-sale windows. Allow fan club members, credit card holders, or subscribers to your email list to get first crack at tickets before the general public. This rewards your biggest fans.
– Choose the right venues. Match the size and type of venue appropriately to the artist’s popularity in each market. Outdoor festivals and sheds typically offer more capacity and flexibility than theaters.
Creative Tactics for Filling Unsold Seats
Despite your best efforts, you may still end up with unsold tickets close to or on the day of show. Some creative tactics for filling seats at the last minute include:
– Lower prices. Cut prices on remaining tickets to motivate impulse purchases from casual fans who find the discounted pricing irresistible. This allows you to earn some revenue from tickets that would otherwise go unsold.
– Offer upgrades. Approach existing ticket holders and invite them to upgrade to better seats for a reasonable upcharge. This lets you earn incremental revenue while also delighting fans.
– Run contests and giveaways. radio stations, local businesses, etc. Drive interest and goodwill while giving away tickets. The free media exposure can also raise awareness to sell more last-minute tickets.
– Donate to charities. Give tickets to schools, non-profits, hospitals and other charitable organizations. This generates good PR and community engagement while also ensuring the venue will appear well-attended.
– Comp tickets for influencers. Provide free admission to social media influencers, bloggers, and other taste makers who can help promote the concert and artist. Their organic posts and reviews expose the event to new audiences.
– Sell at the door. Even if the show appears headed for a loss, sell any unsold tickets at a steep discount at the box office on show day. Some revenue is better than none, and you never want the artist to perform for empty seats if it can be avoided.
Legal and Ethical Considerations
While promoters want to maximize revenues from ticket sales, there are some legal and ethical considerations to keep in mind when dealing with unused inventory:
Avoiding False Scarcity
It’s unethical to intentionally limit initial ticket availability or suggest tickets are nearly sold out if that is untrue. This false scarcity prompts panic buying that unfairly drives up prices in the secondary market. Be upfront about true ticket availability.
Honoring Advertised Prices
If prices are published and advertised, you should honor those rates originally promoted. Drastically slashing prices at the last minute because of poor sales looks desperate and frustrates early buyers who paid full price.
Avoiding Price Gouging
Don’t raise prices excessively on high-demand shows just because you can. This price gouging alienates fans and attracts scrutiny from consumer protection agencies. Reasonable markups are expected, but gauging is unethical.
No Forced Bundling
You cannot compel fans to buy additional products or services to have the right to purchase tickets. Bundling tickets with merchandise, travel packages or other offers should be optional.
Transparent Resale Platforms
If providing an official resale exchange for fans to safely sell extra tickets, ensure the platform is transparent about fees and pricing so sellers know what they will net. Avoid resale methods open to fraud or abuse.
Data on Concert Ticket Sales
The following tables provide some useful data points on the concert ticket market:
Average 2023 Concert Ticket Prices by Genre
Genre | Average Ticket Price |
---|---|
Pop | $275 |
Rock | $215 |
Country | $165 |
Rap/Hip-Hop | $125 |
EDM/Dance | $135 |
Metal | $95 |
Average Ticketing Fees as a Percent of Face Price
Type | Avg Fee % |
---|---|
Convenience | 14.23% |
Processing | 9.87% |
Facility | 5.41% |
Order Handling | 4.29% |
Top-Grossing North American Tours of 2022
Artist | Gross Revenues |
---|---|
Bad Bunny | $454 million |
Elton John | $286 million |
Red Hot Chili Peppers | $228 million |
Lady Gaga | $187 million |
The Rolling Stones | $162 million |
Examining data like this can inform pricing, planning, and promotions for concerts of different genres, scopes and star power. The numbers provide benchmarks to aim for and help set realistic expectations.
Conclusion
Putting on a successful concert with minimal empty seats takes smart planning, pricing, promotions and adaptability. When unsold tickets do arise, promoters have options like discounted sales, upgrades, giveaways and other creative tactics to generate revenue and energy for the show. While driving sales, be ethical and transparent with fans. With the right strategy, unsold tickets don’t have to sink a promoter’s bottom line or dampen concert enthusiasm.