Hip-hop star Jay-Z is on track to notch his highest-grossing solo run ever with the 4:44 Tour, despite his tickets being listed for just $6 (£4.60/€5.20) on StubHub.
After only three gigs, Jay-Z has already broken his own record, Live Nation told Billboard Magazine.
The 4:44 Tour’s completed shows’ average gross is up 21 per cent on his 2013 Magna Carter Tour. In addition, Live Nation said that the Honda Center show in Anaheim, California, earned nearly 49 per cent more than the same stop in 2013.
“This tour will be the biggest headlining tour of Jay’s career,” said Omar Al-Joulani, VP of touring at Live Nation, according to Billboard.
By focusing margins more on front row seats, VIP experiences and platinum tickets, concert promoters are getting increasingly more skilled at getting high prices and record grosses from their best seating inventory.
“This might be the future of ticketing,” Patrick Ryan of ticketing and inventory company Eventellect said. “We are seeing many creative pricing strategies and we are seeing artists find what works for them. You generate a ton of revenue up front, but you still have a $25 price point that makes it more affordable for individuals who want to see an arena show.”
The shift will make it more challenging for ticket touts to set inflated prices for the best seats, because they are already close to actual market value, the report added.