The Secondary Market of Music Festival Tickets
Written by: Rachel Reyes
Save the date! Lollapalooza Music Festival will return August 3-6 this year at Grant Park in Chicago, Illinois! However, there is probably a more important date you will need figure out prior to the festival. As of right now, the date to purchase tickets directly from the Lollapalooza website is unknown. Why, you might ask? Last year for example, the four day pass sold out in less than hour, even before the lineup was released (Swartz). This exclusive festival has built up a reputation that it’s tickets are limited, and that its lineup will always be worth your money, which I believe is why they keep their release date a secret. For me, it personally keeps me on my toes. For those who can’t snag a ticket within that first hour this year, they will have to succumb to second hand sellers like Craigslist, Ebay, Seatgeek, Stubhub, etc. It may seem as if this is still a great option, but with the tickets having such a high value, the secondary market will inflate the prices beyond belief. However, in my opinion, I believe for regular people just like, joining the secondary market to sell music festival tickets a great invest of your money. In 2013, a three day pass was sold by Lollapalooza for $235, but $300 or more on Craigslist and $290 or more on StubHub. One-day passes were $95 each, but Friday-only tickets on StubHub were selling for $171 or more. Saturday tickets were $215 or more on StubHub or $200 or more on Craigslist (Bauer). In 2015, the average price for a 3-day pass to Lollapalooza was $398.81 on the secondary market. That marks a price jump of 45% over the $275 face price. The cheapest available 3-day pass was listed for $313, still 13.8% above face value (Lawrence). These people in the second hand market are making substantial profit and I think it’s awesome for them. Although it is a disadvantage to Lollapalooza-goers like myself, I understand why people would inflate the prices of these tickets in the secondary market. The value of the tickets is incredible, and it makes sense as to why they would demand more money for these tickets.
(Photo from Kuchik: 2015 crowd at a concert during Lollapalooza)
As seen in this photo, the crowds at Lollapalooza are massive. The 2015 crowd reached 300,000 attendees (Waddell). The secondary market will continue to thrive in my opinion. Those who want to see their favorite artists perform life will do whatever they can to get their hands on those awesome three day passes.
Bauer, Kelly. “Lollapalooza Tickets: Prices On the Rise Among Resellers - The Loop.” DNAinfo Chicago, 30 July 2013, www.dnainfo.com/chicago/20130730/loop/lollapalooza-tickets-prices-on-rise-among-resellers.
Kuchik, Natalie. “Top 9 Bands & Artists Rumored to Perform at Lollapalooza 2015.” AXS, 24 Mar. 2015, www.axs.com/top-9-bands-artists-rumored-to-perform-at-lollapalooza-2015-45723. Accessed 20 Feb. 2017.
Lawrence, Jesse. “After Onsale And Lineup Reveal, Secondary Market Lollapalooza Tickets Averaging Well Over Face Value.” Forbes, Forbes Magazine, 25 Mar. 2015, www.forbes.com/sites/jesselawrence/2015/03/25/after-onsale-and-lineup-reveal-secondary-market-lollapalooza-tickets-averaging-well-over-face-value/#70eb179c7fee. Accessed 20 Feb. 2017.
Swartz, Tracy. “Lollapalooza 4-Day General Admission Passes Quickly Sell Out.” Chicagotribune.com, 22 Mar. 2016, www.chicagotribune.com/entertainment/music/ct-lollapalooza-4-day-passes-sell-out-20160322-story.html.Waddell, Ray. “Lollapalooza Draws 300,000 to Chicago.” Billboard, 5 Aug. 2015, www.billboard.com/articles/business/6655948/lollapalooza-draws-300000-to-chicago. Accessed 20 Feb. 2017.