The Ticket-Masterplan

Sam Harris
Sept 2024 • 3 min read

The Ticket-Masterplan

On the 27^th of August 2024, Oasis announced their reunion, along with dates and venues for their ‘Live 25’ tour. An event which sent shockwaves rippling through social media as people were desperate to get their hands on tickets. Fifteen years on from when the band split up rather volcanically in 2009, the Gallagher brothers have decided to give the fans what they want. Though I’m sure the response and extent of subsequent engagement to the news caught them off guard.

When tickets went on sale, hundreds of thousands of frenzied fans vied for the chance to see the band. Inevitably, many fans were left in despair as they failed to obtain tickets. Yet for the few who managed to get a ticket just before they sold out; the victory was bittersweet. Due to Ticketmaster’s use of ‘dynamic pricing’, some fans who purchased tickets when availability was running out ended up paying more than double the price that was advertised. Originally, standing tickets were available for around £150. However, as tickets were sold and the remaining availability decreased, prices for those very same standing tickets rose to over £350!

Understandably, many fans were not happy about this and have described Ticketmaster’s conduct as exploitative and unfair. The practice of dynamic pricing has previously caused controversy, and some artists (such as Ed Sheeran & Taylor Swift) have taken a firm stance against it.

Earlier this year, the United States Federal Government filed an anti-trust lawsuit against Ticketmaster and its parent company Live Nation. As a consequence of the uproar, the UK Competition and Markets Authority (CMA) has also launched its own investigation into Ticketmaster’s use of dynamic pricing.

The Financial Conduct Authority (our regulator) holds the financial services industry to higher standards and we are very pleased to confirm that we do not manipulate our fees in this way – it will cost the same to top up your ISA today for example as it would cost if you left it until the end of the tax year.

Let’s hope that the Oasis fans who fell victim to Ticketmaster’s dynamic pricing don’t look back in anger at the ticket chaos, and are able to enjoy the show.

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The Ticket-MasterplanJemima Thomas2024-09-13T17:05:42+01:00

The Annual Spending Plan

Solomons-financial-advisor-wimbledon-blogger

The Annual Spending Plan

As we prepare for the end of the tax year in a few weeks’ time, we are also preparing your annual spending plans. On Wednesday clients should have received a new copy for you to update us with your plans for the year ahead.

If you would like to simply update your details from last year, we can provide a copy, which we will send to you securely. We are now using the Citrix ShareFile system which is encrypted and doesn’t require you to use a password. You can also return documents to us that way too (which makes life a little easier if you can save pdfs or create them). Alternatively we could send you an excel version of the same information. Just let us know.

A plan is not an account

We are all aware that despite the official figures showing inflation of roughly “nada”. Most of us need to keep an eye on where our money is going. Your financial plan is based upon your lifestyle. There are a couple of obvious sources of information about your lifestyle, things that tend to be more accurate than our own memory – your bank account and your diary. These tell us how we spend our time and money.

So whatever life stage you are at, it’s time to review your spending plan. Note that this is a plan, not an account.

The big-ticket item… in your plan?

I don’t follow American football, but I did see an “interview” with a Bronco’s fan at the Superbowl last weekend. He was asked how much he spent… he replied “Twenty-one”… then when asked how much on the whole trip, he said,

“thirty thousand – I spent twenty-one thousand on four tickets, but with the tailgate package it was thirty thousand…. Don’t tell my wife”.

I’m guessing that by now she has seen the video on NBC…. Well at least the Broncos won…. I’m not entirely sure that the interviewee knows the difference between hundreds and thousands though (a problem in financial planning and life generally!). When I looked up the price of a ticket the tailgate package is considerably less, so either he paid a fortune to a ticket tout or missed the day they did hundred, tens and units…

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk

The Annual Spending PlanDominic2023-12-01T12:19:25+00:00

Coldplay – Just The Ticket or The Just Ticket?

1999: Just The Ticket – Wenk

For those that like attending gigs (I loathe that word for some reason).. anyway “music events”, you will appreciate the bizarre way that the ticket market operates. The ticket price may be £20-£150 but there is invariably a handling/postage fee which makes the ticket agency a fair profit I suspect. Anyway, apart from this gripe, I am also increasingly annoyed by the way that “events” are promoted. For example, Coldplay (Britain’s biggest band at the moment and one that I have liked for many years and seen them live on numerous occasions) have a new album “Mylo Xyloto” and are beginning a world tour. Tickets are sold out within minutes of being released online, jamming up various Internet servers. In theory you can only buy 4 tickets at a time for most bands. Yet no sooner is the panic over as you purchase the last remaining tickets, than a new date is announced – the following day.

Now I’m fairly sure that venues probably need a little more notice than what appears to be an impulsive reaction to the huge demand for tickets. It smacks of a con and must surely be market manipulation. I’m not citing Coldplay as unique in this, they all do it – and frankly it probably has almost nothing to do with the bands and everything to do with the promoters.

To make matters worse, ticket agencies seem to be allocated loads of tickets and then sell these on at a premium, even when an event is sold out, clearly it isn’t ever sold out. Turning up to the actual event also reveals a considerable number of “empty seats” – whoever the band is.

Within the financial services industry regulation makes market fixing illegal. Prices are meant to represent the real metrics of supply and demand.

Coldplay tickets can be found at their own site, but it will redirect you to Ticketmaster – so if you would like a little more choice, here are just a few of those of the first page of google.

We are a boutique firm of financial planners. We create financial plans designed to achieve a desired lifestyle. We will craft and implement your plan that will provide you with the greatest chance of accomplishing your unique goals based upon the values that you hold. Financial products are little more than the tools to achieve your required results
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Coldplay – Just The Ticket or The Just Ticket?Dominic2023-12-01T12:48:39+00:00