Backing up that optimistic view on the live music sector, secondary ticketing firm Seatwave, the largest fan-to-fan ticket exchange in Europe I'm told, has said the resale of tickets online continues to grow despite the recession. This will be received with mixed feelings by concert promoters. The fact people are still paying hiked up prices for tickets on ticket exchange websites shows there is still an appetite to pay to see bands play live. But given the general dislike of ticket reselling among promoters, they won't be so happy to hear that the secondary ticketing market is on the up.
Seatwave say that their ticket exchange service was used for 104% more transactions in quarter three than quarter one, and that music accounted for the more of that growth than other areas like theatre and sport. That, they say, is both a sign that they are themselves are becoming an increasingly trusted place for ticket exchange, but also that the appetite for gig tickets is as strong as ever.
Seatwave founder and CEO Joe Cohen told CMU: "These figures clearly demonstrate the explosive growth Seatwave has experienced across Europe. With the number of repeat buyers and sellers almost trebling, the secondary market is quite clearly filling a genuine customer demand. Our open marketplace is lowering prices, increasing transparency and providing greater choice and opportunity for true fans of music, theatre, comedy and sports".