The price of concert tickets has trended upward in recent years. With revenues from physical album sales largely dried up, bands and promoters have increased ticket prices as one way to compensate for the lost revenue. Ticket prices also tend to fluctuate from when they first go on sale to the date of the concert.
Finance Buzz recently conducted a study to help concertgoers find when tickets are cheapest. They found that buying tickets from resale sites the day of the show is when they’re the lowest — 33% cheaper on average and 27% cheaper than the day before fate concert. The report also said that most music fans buy tickets around three months before the event takes place. “Tickets purchased that far in advance cost nearly 14% more than the average ticket price on the secondary market,” reads the article.
Other key findings according to the report: “Just under two weeks before a festival was the best time to buy passes. Prices were 30% below average 13 days before the festival start and 24% below average 12 days out. 24% of concert tickets and 25% of festival tickets bought on the resale market are purchased in the week leading up to the event.”
Finance Buzz also found that nearly 12% of all ticket sales take place on the day of the event, illustrating that some music fans have already figured out their findings. Other tips for saving: “Earn perks and rewards on ticket purchases. Some credit card rewards programs offer bonuses on entertainment purchases such as concert tickets.” Also: “Find rebates and get cash back when shopping online. Technology has made it easier than ever to save money while shopping online. An app like Honey can scour the internet for discount codes on thousands of sites (including ticket resale sites). Similarly, Rakuten can help you earn cash back nearly every time you make an online purchase.”
And finally: “Make sure you’re getting the best deal before checking out. There are so many places that sell the same products online that it can be hard to know for sure if you are getting the best deal. For those looking for some peace of mind at the digital checkout line, Capital One Shopping will check prices against thousands of other sites while also finding coupon codes that could save you money on all kinds of purchases.”
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