Part 2: What can we learn from The Tragically Hip resellers data?

A few weeks ago we posted an article with data on the arbitrage scalpers were earning on tickets to the The Tragically Hip’s first show in Victoria, BC. We wanted to write an update to discuss some interesting happenings.

First, remember that the Victoria show saw scalpers and re-sellers earning 130% more than what the band and their teams earned. The next show on the tour in Vancouver saw ticket prices fluctuate, with prices as low as US$39 before the show started. There was even stories of people picking up tickets at the box office hours before the show started.

Now The Hip are coming through Toronto. What does the Stubhub sales data tell us? The chart below shows ticket sales on Stubhub compared to the face value for each of the three shows on Wednesday (July 10), Friday (July 12), and Sunday (July 14).

For the days we collected data, the face value of the 1,925 tickets sold on Stubhub had a face value of US$269,000 and were sold for US$553,000, representing a 106% mark-up on face value. That means US$284,000 — or nearly US$150 per ticket on average — went directly into scalpers hands.

Looking more closely, you can see that the Friday show consistently had the highest markup (no surprise there), but their last show this coming Sunday has the lowest markup. You can bet that will increase as the Sunday show nears.

There is also an interesting ‘double hump’ phenomenon happening, where demand (and profits) peaked on July 28, and then dipped for a while until rising substantially closer to the show dates.

Between Victoria, Vancouver, and Toronto, one of the issues this Tragically Hip tour is highlighting is the volatility of the ticketing market. Some shows have tickets available hours before showtime and prices as low as US$39, while others are marked up 130% on average. Timing the market to pay a fair price in the concert ticket market can be more difficult than flights in the airline industry.

Check out Robin and what we’re doing to help fans get access to their favo(u)rite concerts and events.