Twickets Caps the Price of Resold Tickets at Face Value
References: twicketsusa & theverge
The live entertainment industry is struggling to curtail rampant reselling of event tickets, and Twickets is just one of the responses to the dilemma. The reselling site is a fan-friendly alternative for people looking to purchase aftermarket tickets, with its key feature being that it caps the price of all tickets on its site at face value.
Among the biggest problems with the current event aftermarket is that tickets often aren't priced appropriately for their value. In other words, tickets might be priced at $40, but fans would be willing to pay twice that for the chance to see their favorite musician, sports team, or whatever other live event. This lets scalpers profit at the expense of true fans. By capping ticket prices, Twickets eliminates the incentive for scalpers to game the system, instead ensuring that fans pay fair prices for events.
Among the biggest problems with the current event aftermarket is that tickets often aren't priced appropriately for their value. In other words, tickets might be priced at $40, but fans would be willing to pay twice that for the chance to see their favorite musician, sports team, or whatever other live event. This lets scalpers profit at the expense of true fans. By capping ticket prices, Twickets eliminates the incentive for scalpers to game the system, instead ensuring that fans pay fair prices for events.
Trend Themes
1. Fan-friendly Reselling - The trend of fan-friendly reselling is emerging as a response to the problems of inflated ticket prices in the current event aftermarket, opening up opportunities for businesses to provide fairer prices for fans.
2. Price Capping - The trend of price capping for resold tickets is gaining popularity as a solution to curb scalpers and increase accessibility to events, creating opportunities for platforms and businesses to explore and capitalize on.
3. Value-based Ticket Pricing - The trend of value-based ticket pricing is becoming more important in the live entertainment industry, creating opportunities for businesses to develop more sophisticated pricing models based on demand and value.
Industry Implications
1. Event Ticketing Industry - The event ticketing industry can benefit from developing fan-friendly platforms for reselling tickets, capitalizing on the growing demand for fairness and accessibility.
2. Live Entertainment Industry - The live entertainment industry can explore price capping and value-based pricing models to address the issue of scalping and increase fan satisfaction, opening up new sources of revenue and market differentiation.
3. Ticket Reselling Industry - The ticket reselling industry can develop innovative solutions, such as price capping and fair selling practices, to differentiate from traditional scalpers and gain a competitive edge in the market.
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