JAY-Z’s ‘4:44 Tour’ Will be His Highest Grossing Solo Run Ever
Yes, there are JAY-Z tickets going for as low as six bucks in some cities and claims that sales have been less than impressive, but make no mistakes, Jay's 4:44 Tour will be his highest grossing solo tour ever, according to a report by Billboard.
Billboard reports that the super low ticket prices don't reflect a soft demand for his tickets, but are instead a smart way of pricing ticket scalpers out of the game by changing market prices for the best seats. He's only three dates in, but 4:44 is already his highest grossing solo tour ever, according to Live Nation. Specifically, "average gross for the 4:44 Tour’s completed shows is up 21 percent over his 2013 Magna Carter Tour." And the recent show he had in Anaheim, Calif., earned nearly 49 percent more than the same stop in 2013.
"This tour will be the biggest headlining tour of Jay’s career,” says Omar Al-Joulani, VP of touring at Live Nation told Billboard.
In short, it works like this: by pricing tickets lower, JAY-Z and Live Nation get more revenue and offer little room for ticket re-sellers to mark up the best seats. This pricing technique takes pricing pressure off the upper-level seating sections. "Priced out of the top tier, many ticket brokers are stuck buying and selling tickets in the upper bowl," Billboard explains. "And since consumers can still choose between buying the same seat on the primary or the secondary, many brokers end up selling off tickets below face value, taking a loss."
Its a strategy that's been employed by several big name acts over the past year, including Tool, Radiohead, the Weeknd, One Direction, Coldplay and U2. Reportedly, the trend will likely continue.
“This might be the future of ticketing,” explained Patrick Ryan with ticketing and inventory company Eventellect. “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.”
So, basically don't worry about Jay. Remember, he's a business, man.