Study reveals the best time to purchase concert & festival resale tickets
Financial news website Finance Buzz unveils the best time to buy concert & festival tickets, based on analysing over 22,000 ticket resale prices.
Everyone at least once in their lives has experienced the stressful experience of buying concert or festival tickets, whether it be Tomorrowland, Creamfields or our favourite artists like Swedish House Mafia that seem to see the tickets sell out in record times. Moving on from the painful ticket sellouts we are forced to tackle the extremely gruelling resale, but when is the best time to buy? Well, thanks to a study from Finance Buzz, we now know the answer.
The study analysed over 22,000 ticket resales across over 9,000 transactions from artists’ concerts the likes of The Lumineers, Billie Eilish, Orville Peck and Paul McCartney, with a further 8,000+ multi-day music festival passes purchases across 11,000 total transactions from our favourite concerts the likes of both weekends of Coachella and EDC Las Vegas. All the events took place between April 8th and May 29th of this year.
The study unveiled 3 key findings with the overall agreement being it’s better to be patient when buying tickets for your musical experiences. Concert tickets are over 33% cheaper on the day of the event, and festivals see their cheapest tickets prices fall within 2 weeks prior to the event, with prices being 30% below average at this time. The last key finding was the positive news being that many music fans are knowledgeable about this money-saving hack, with 24% of concert tickets and 25% of festival tickets being purchased from the resale market in the week leading up to the event.
All information was gathered by Finance Buzz from the website seatdata.io which tracks ticket resales, and you can find the full report here.
Image Credit: Jose Murga for Insomniac Events