NITO study of 20 shows found $6.2M in ticket reseller profit
An analysis of 20 concerts in Maryland showed $6.2M in ticket reseller profit above original face value. The study was conducted by NITO (National Independent Talent Association) at the request of Maryland State Attorney General’s Office.
Resale platform StubHub accounted for more than 24% of resales. Overall, resold tickets were twice as expensive for fans as average face value tickets.
The shows analyzed included three at the CFG Bank Arena and one show at M&T Bank Stadium; the three day Oceans Calling Festival in Ocean City, and 15 at the Merriweather Post Pavilion in Columbia. All shows were between 2021 and 2024.
The Maryland findings are consistent with a previous analysis by NITO of concert ticket resale on a national level.
NITO is the trade group for U.S. independent music booking agencies and managers.
Major Ticket Resale Myth Debunked
A key argument used by resellers is that consumers can often buy tickets through them at prices lower than on the primary market. However, for the 20 shows analyzed, NITO found only 627 tickets of 35,000 had been sold below the lowest face value prices available on the primary market.
Highlights of NITO’s Maryland Ticket Resale study
- Resale tickets are twice as expensive as average face value tickets
- An average of 2,413 tickets resold per event with an estimated profit of $129.44 per ticket sold to resellers
- Combined ticket reseller profit for the 20 events examined was a whopping $6,245,711.72
- Only 627 tickets out of over 35,000 tickets resold, or 1.7%, were sold below the lowest face value prices available on the primary market.
- A combination of six shows had 19,573 tickets resold. But, only one ticket was sold below the lowest listed face value price.
- A two night run at the CGF Bank arena in Baltimore had 8,943 tickets resold, or roughly 37% of the total capacity. We estimated that resale profit at nearly $2,000,000.00. These concerts also had the highest estimated profit per ticket, at $216.00.
- There were six events where the estimated resale profit was over $150.00 per ticket.
Read the full NITO Maryland study here.
Bruce Houghton is the Founder and Editor of Hypebot. He is a Senior Advisor at Bandsintown, a Berklee College Of Music professor, and founder of the Skyline Artists Agency.
“NITO study of 20 shows found $6.2M in ticket reseller profit” first appeared on Hypebot.com.
