Ticket scalping has been around for many years and is defined as ‘an unsanctioned ticket investor who purchases tickets to an event and resells them at raised prices.’ The action to ‘scalp’ has been referenced as early as 1869 in American English to theater tickets but mostly to that of the 19th century referencing railway tickets. A scalper was a common utterance for “con man or cheater” in the late 19th century. (Scalper) The second-hand market grew exponentially as opportunists realized they could sell tickets at a higher price. The secondary market thrived underground for the majority of the 20th century, no federal laws restricted scalping, however, many states had laws limiting how and where tickets could be resold. The internet made …show more content…
(Ticket Masters) Ticket Scalpers have a bad reputation when it comes to public opinion. Ticket scalpers are just individuals who purchased their ticket early and have the idea to make a profit off their inability to attend the event. The secondary market determines what the ticket’s value is rather than what management says it is worth. Scalping also successfully benefits our economy. The increased prices are a result of the reduced amount of tickets available to the public. For that reason, the resale of tickets should be allowed because the ticket’s market prices are gradually increasing as time passes and buying tickets early reduces the chances of overpriced …show more content…
“Ninety-five per cent of all downloaded music is stolen,” (Seabrook) so as a result, scalping is beneficial to the economy. AEG, a leading sports and entertainment presenter, has partnered with eBay-owned StubHub. The live entertainment company now gets a share of the total revenue. AEG, second to Live Nation (owner of TicketMaster) in concert promotion, has introduced a cyber-waiting room. The waiting room allows fans to purchase tickets in the order they arrive. Bryan Perez, AEG president of digital ticketing and media, states waiting rooms “ensure more fans get fair access to every seat in the house.” (Peoples) With greater profits available, the artists can share in the benefits. Money is circulation helps the economy strive. Overpriced tickets may not be ideal, but the profits benefit society. Our economy stays afloat because of the money we spend. Economics teaches that charging extra makes a profit. To successfully scalp tickets, the ticket price selected by management has to be less than the ‘market clearing price.’ Management saves money on advertisement when long lines bring in publicity. Big ticket events are where scalpers get the most business. Scalping would no longer be an issue if the box office sold them at prices each individual was willing to pay. Lower prices draw a larger audience. When tickets are inexpensive and in high-demand, audiences are drawn to that event, thus creating a
Ticketmaster’s move towards greater transparency helped its standing with customers by informing them up front about the cost of the ticket they wanted to purchase. Previously, customers were eager to purchase the ticket, but they could not realize if they could afford it until the end of the checkout process. Once customers found out the total cost, many became frustrated and cancelled the purchase. The latest transparent approach gives customers a clear standpoint of the ticket price and allows them to determine if they are willing to spend their hard earned money to purchase that ticket.
Spirit Airlines has long been considered an unorthodox airline. They, of course, address all four P’s in their marketing strategy; however, they focus a large amount of their effort on price and promotion. They focus on cutting price through “unbundling”. They focus on promotion through taking advantage of social issues and breaking news. Many advertisements and deals promoted by Spirit have given the public a definite shock-factor. Spirit has made two objectives very clear: they are furious at getting the customer the lowest fare possible by any means necessary, and they will similarly use any means necessary to get those potential customers to notice those fares. Such a blatant marketing strategy works. Even going up against some big competition, Spirit finds ways to be competitive and successful in flagrant fashion.
Mason, Paul M.; Steagall, Jeffrey W., The elasticity of demand for lotto tickets and the corresponding welfare effects., Public Finance Review, Sep97, Vol. 25, Issue 5.
In 1919, Charles “Get Rich Quick” Ponzi began redeeming coupons obtained overseas for between 100 to 300 percent profit. The investors in his plan were promised 40 percent profit on their investment within 3 months (Hagan, 2011). Word quickly spread about the money-making opportunity and Ponzi found himself with more investors than he could handle. He paid the early investors with money obtained from later investors, creating a situation that simply couldn’t be sustained.
Blue Jays pricing strategies are not just a financial necessity, they are also a promotional tool used to increase fan attendance. How? At all Saturday home game and nonholiday games, senior citizens and young people up to fourteen years old can purchase tickets except for the most expensive ones.
He, in league with a select few others with the same depraved interests, puppeted the city’s entire leadership with their well-fed hands, not without the use of bribery and threats. In addition to this distortion of leaders, the Ring, as it was called, had the support of most of the city’s lower-class immigrant population. As the city rapidly became more industrial, it seized the opportunity to use the influx of working immigrants for their own gain. In exchange for jobs and services, Tweed asked only for votes; in this simple manner the group’s control of the city was secured. Defendants claimed that the Ring brought “energy,” “system,” “order” to the city; they were not wholly wrong, as the services it provided benefited the city’s poorest. However, these benefits came at a steep cost: $200 million - nearly $6 billion in today's money - defrauded in taxes. Few outlets were available to protest this gross abuse, as most of the city's people had been inculcated into support of the Ring, and most newspapers had been bought out by it. However, Nast’s paper Harper’s Weekly remained
Other schemes employed by promoters (and the promoters’ hirers) include closing price manipulation, wash trading, and message board spamming The illegal practice of closing price manipulation (also known as “painting the tape”) is a way for promoters to push a stock’s closing price to an artificially higher level. Promoters might use this tactic to make a certain stock “green” for the day (close at higher price than the previous day’s close), when in reality it should have appeared negative for the day (close lower than the previous day’s close), thus making the stock more attractive to investors. It is important for promoters to present a certain image of a stock to investors—often that means manipulating prices in a way that appeals to an investor’s psyche.
The article states that traffickers/pimps begin by offering the girl or boy a place to stay, food, drugs, and/or alcohol. After trust has grown, the pimp starts asking and pushing the girl/boy to repay them by selling
On the flip side, the cost of having a lottery is another factor to exam. In reality, a state lottery is a state-created gambling monopoly whose gross sales are taxed at a rate of about 33 percent. What is often overlooked when considering a lottery is the very high cost of administering a lottery when compared to other ways of raising money such as tax increases. The administrative costs are usually expressed as a percentage of the gross lottery sales but analytically, it should be expressed as a percentage of net revenue, less the amount returned to players in prize money. When this is done, the administrative cost could be as high as 52 percent. When considering the administrative costs associated with raising money through other forms of
Record companies are traditionally only involved in the distribution and music making side of an artist’s career but now to make ends meet they need to take a percentage of touring, interviews, merchandise and anything else involved in the entertainment industry e.g. acting etc. this is why it is called a 360 deal because it covers all bases, the worst part about this is that not only that the record companies are struggling but now so are the artists, they have publishers, tour managers, publicists and many more that take percentages for the work they do and then the record companies also take a percentage. In the end the artists are left with very minimal earnings making it hard for them not only to live but to also to pay back their debt to the record companies. This is the harsh reality that music piracy is having on the music
Today there is an ongoing debate on whether online piracy should be prosecuted against. People today do not consider downloading a song without paying for it stealing. Stealing by definition is taking somebody else's property without permission or legal right. So not paying for a song is right but taking something off a shelf at the store is wrong? No. There is no right or wrong way to take something that is not yours. Online piracy should be prosecuted against because it costs people money, limits the investment in new music and costs people their jobs.
Internet piracy is defined as: “Copyright infringement is the use of works protected by copy right law without permission, infringing certain exclusive rights granted to the copyright holder, such as the right to reproduce, distribute, display or perform the protected work, or to make derivative works. The copyright holder is typically the work's creator, or a publisher or other business to whom copyright has been assigned" (Dowling v., 1985). Shawn Fanning was an 18-year-old collage drop out but he was not like any other regular teenage collage drop out. He created one of the most amazing file sharing networks (Napster Peer-2-Peer application), it allowed you to search the name of the artist or song and download files that were being shared by people for free and that is when internet piracy began (http://www.cracked.com/funny-4101-the-history-internet-piracy/).In 2001 Napster was shut down but it was too late and other file sharing sites had spread including KaZaA and Morpheus. Today almost a third of UK internet users who stream or download music, TV and films did so through internet piracy in the quarter to the end of January, with almost 400 files digitally printed in a three month period according the the media regulator (Mack Sweney , 2013). Many laws are being broken when it come to piracy such as the U.S. copyright law, but people just seem to not care. Music and movie online piracy has become a major issue that is not only affecting the music and movie industry in a financial way but also causing ethical issues.
What if musicians stopped making music? What if directors stopped making movies? What if game developers ceased to exist? If you illegally download your show, songs, and games, you need to legitimately consider these possibilities. You see, pirating music and videos directly impedes the progress of both you and the creators. Buying media legally supports creators, keeps you out of jail- for this particular offense, anyway- and said entertainment mediums usually aren’t extremely expensive.
With technology increasingly becoming better and better, a lot of activities are becoming way easier to accomplish; such as, buying and selling, but not all things becoming easier are necessarily good. Lots of people take advantage of technology these days and pirate things like music; by doing this, they are stealing lots of effort and man hours with just a few clicks. When people share this abusive power, more and more people tend to pirate and it is almost an irrevocable process. Most people pirate because they cannot afford to pay for the product they pirate or in another sense are just really lazy, but that is no excuse! People who have pirated music should be fined because they are hurting the artist; they can actually give the money back that they took instead of going to jail, and to help repair the damage they have done to the United States (U.S.) economy.
...llegally is actually helping them. The fans who listen to the music are the ones whose opinions matter the most and the ones who shape the music. So when one downloads a song, they are making that song become more popular. Tom Durrant points out, “Without it, we wouldn’t have Spotify and a summer full of packed out arenas” (Durrant). These downloads, even though they may be illegal, are what is making these songs and artists so popular. It can also be argued that “illegal downloads boost legal downloads” (Rothman). Some people believe that others download music illegally for the songs they never would have spent money on. It can also be argued that if the music had not been there for illegal downloading, most people would not have even listened to that music at all. But the main problem in the matter is still that illegal downloading will cause more harm than good.