This is the latest aftershock in an arguably catastrophic Rolling Stones tour. That is, catastrophic not just for the band, but maybe for the entire concert industry as well.
This might be that ‘moment’ when everything changed. After being confronted with wide swaths of unsold seats for their opening gig at Staples Center, Stones promoters were forced to slash prices to $85 (often for very good seats). That solved a short-term problem, but was a very bitter pill for those that paid $600-plus for a ticket. Especially those who found themselves sitting right next to bargain-grabbing fans.
Which brings us to the aftermarket, often regarded as a more accurate representation of actual demand. And the tough reality is that in some markets, prices are getting pushed below the $85 ‘deal’. Here’s what a quick look on StubHub showed over the weekend for Anaheim, just south of Los Angeles. Anaheim is the most heavily-populated city in the very wealthy Orange County (OC).
And there’s plenty of softness on these bargains, which means aftermarket prices will probably go even lower. Indeed, the deeply-slashed $85 tickets quickly sold out in Los Angeles, but they aren’t even selling out in some cities. As of this weekend, Oakland fans could still grab an $85 seat (as shown above). And very few of the subsequent, US-based tour dates were sold out.