Well, that may be a bit of a stretch, and it certainly won’t happen anytime soon, but a start-up company called qcue is developing software that may help primary ticket sellers (such as Ticketmaster) more effectively price tickets from the start. This could essentially do away with the arbitrage opportunity that ticket brokers exploit - buy tickets at the onsale at below market prices, and then resell the same tickets at higher prices as determined by market supply/demand.
Qcue’s goal:
Accurately pricing event tickets is difficult due to unknown and fluctuating consumer demand and the risks of overpricing. Scalpers have taken advantage of this arbitrage opportunity to create a multi-billion dollar secondary market While primary sellers fail to capture the mark-ups that result when tickets are under priced, they face the consequences of poor attendance from overpriced tickets. qcue exploits the synergies between the primary and secondary markets by integrating elements of airline pricing and NASDAQ trading into current selling platforms, providing primary sellers the ability to dynamically price-to-market. The qcue team members include Barry Kahn, PhD Economics 2007; Jitendra Dalvi, MBA 2007, and Andrew Mills, PhD Computer Science 2008.
The opportunity for primary ticket sellers, labels, and artists to capture more of the money in the initial onsale is huge. In turn, the potential downside to the secondary ticket industry from this software is huge. If Ticketmaster were to implement such software and dynamically price tickets at the time of onsale based on market demand, there’s the potential that most or all of the upside to secondary market ticket brokers could be go away altogether.
Qcue won the University of Texas Moot Corp business plan competition and the last three winners moved forward to receive venture capital funding. It will be interesting to watch this company develop…
86 responses so far ↓
1 Eddie // Apr 14, 2008 at 1:53 pm
I can see this happening.
We are already used to paying a lot more (or a lot less) than the person sting next to us on a flight.
So what will be next - tickets with the name of the concert goer, that can’t be transferred to anyone else?
2 admin // Apr 14, 2008 at 4:27 pm
Hey Eddie, thanks for your comment.
In response to your question, I’m not exactly sure but I do see the ticket industry changing materially over the next decade or so. Since Ticketmaster acquired TicketsNow, they already have their hand in the secondary ticket market so I’m not sure they will be incentivized to implement such technology - unless the dollars from this dynimic pricing makes them more $$$.
3 Matthew // Oct 15, 2008 at 9:39 am
Put the names on tickets like they did for Pearl Jam. You are leeches you deserve to die from cancer along with your children. Please kill yourself now!
4 phan240 // Oct 19, 2008 at 8:42 pm
i am with you matthew, any scalper on hampton lot is going home with no teeth, & no tickets. consider yourself warned.
I hope the bands start doing mail orders with the customer’s names on the ticket.
You “brokers” should feel ashamed…You provide no real service or product at all, you are just slimy middlemen.
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