Secondary Tickets Market May See a Big Move: Major Giants Viagogo, TickPick, StubHub, Razor Gator
Updated · Jun 04, 2023
Published Via 11Press : The resale market often referred to as the secondary ticket market is where tickets are exchanged on the open market through legal or illegal means. These tickets are bought in bulk at face value before the event and then resold in the market for a substantially higher price. Theatrical productions, athletic events, and concerts are typically featured. The tickets on this marketplace often have dynamic pricing, which means that when demand is high for an event, the tickets are given away for a price that is much greater than their original worth, and when demand is low, the tickets are even sold for a lower price than their original value.
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Secondary Tickets Market Report Highlights:
|Unit||Value (USD Million)|
|Key Companies Profiled||Viagogo, TickPick, StubHub, Ticketmaster, Seatgeek, Razor Gator, Ticketcity, Tickpick, Coast to Coast Tickets, Rozorgator|
The report includes a thorough analysis divided into the study’s primary geographies and important business areas. In the upcoming years, the rivalry is anticipated to intensify further as competitors in the secondary ticket market use new tactics. The Secondary Tickets research study delivers information on the competitive environment and the product/service offerings of top competitors to assist customers in increasing their revenue shares in the sector. In instruction to exploit the benefits of growth potential, this Secondary Tickets marketplace study too proposes systems that contributors may use and stresses important expanses they should distillate on.
The report offers several leading players:
- Razor Gator
- Coast to Coast Tickets
Breakdown by Event Type:
- Sports Event
- Performing arts
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- On January 26, 2023, Automatic, the leading automation solution for ticket resellers, and Drew’s Tickets, a pioneer in consignment and fulfillment services, announced their intention to merge.
- The merger of two of the industry’s fastest-growing companies will produce a strong new force that will fundamentally change how ticket sellers operate.
- The availability of several well-known and up-and-coming companies, as well as a wide range of product offers, pricing points, and distribution methods, distinguishes the secondary ticket market.
- The most well-known Secondary has a positive reputation and well-known brands, which may provide them a competitive edge in terms of luring and keeping clients.
Market Growth Drivers:
- The demand for secondary tickets in the consumer marketplace is rising along with their price.
- On the primary market, tickets for well-attended events typically sell out.
- This provides ticket brokers with the opportunity to purchase tickets and resell them for a profit on the secondary market.
- The secondary market provides convenience for customers who might have lost out on tickets during the primary sale or who wish to get better seats.
- Customers may purchase tickets online from the comfort of their own homes.
- The limited availability of tickets for many events makes it difficult to purchase them via primary market sources.
- This provides an opportunity for ticket brokers to purchase seats and resell them for a profit.
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- The secondary ticket market The market’s expansion is being hampered by a lack of supply, price volatility, fraud, and scams, to name a few factors.
- The amount of tickets available on the secondary market depends on how many original tickets were issued for the event.
- If the event is in great demand, there could not be many tickets available for purchase on the secondary market, which might drive up costs and make it difficult for purchasers to get tickets.
- The price of tickets on the secondary market can fluctuate significantly and fast depending on factors such as supply and demand, the date and time of the event, and the level of celebrity of the artists or teams participating.
- The secondary ticket market is enormous and has recently been growing.
- One of the biggest benefits of the secondary ticket market is the availability of tickets for events that have previously been sold out through primary ticket sales.
- Fans could be able to attend events they otherwise wouldn’t be able to, while event planners might gain from extra revenue sources.
- Even while ticket prices on the secondary market occasionally fall below those for primary ticket sales, they can vary widely.
- A buyer may be able to get tickets for less money if they are willing to wait until closer to the event date.
- This is because sellers may be more ready to accept lower bids in order to avoid having unsold tickets.
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