Secondary Ticket Market Reacts To Stock Market Drops
The recent volatility of the stock market is big news. The market drop of last Thursday and yesterday’s even larger dive marked some of the worst days in DOW, S&P, and NASDAQ history. In total, the Dow Jones was down 9.13% after three days of trading (Thursday to Monday). Coming with the first ever S&P downgrade of US debt, this past week has proved a dismal one in terms of financial news. After last week’s stock market plunge, SeatGeek decided to take a look at Thursday’s secondary ticket market, watching for a corresponding drop in sales. We zeroed in on some of our most demanded artists of the month, and charted their sales over the past week. What we found was a perfect illustration of a negative customer reaction to bad market news. In the 24 hours after Thursday morning’s market plunge, which left the DOW down 513 points, we saw dramatic decreases in ticket sales for current top touring artists. Across the board, for every artist that we looked at, especially these most popular ones, ticket sales plummeted by a minimum of 30%. The most dramatic decrease seen concerned boy band Maroon 5, which lost 96% of its ticket traffic. Little did we know that Monday would prove an even worse day for US stocks. We took a look at sales again yesterday and saw that, like the stock market, they had not rebounded. In fact, we saw another transaction dip correlated with Monday’s disastrous market news. As is clear from the graph, all of our top five August artists saw drastic decreases in ticket demand on August 4th, without any real rebound over the weekend. Less clear, but still noticeable, are the further dips seen in most of the artists’ sales on Monday. While the secondary ticket market is not usually impacted by every up and down in the US or international markets, big events like these drops do seem to have a visible impact on tickets sales. Which means that what everyone is saying about stocks is also true for tickets: now is a good time to buy! For the best deals on tickets to any concert, sports game, or performance visit us at the worlds largest ticket search engine. For a comprehensive guide to buying tickets on the secondary market, check out this guide to the secondary ticket market.