Hamilton's ticket price jump

[Hellob]

Posted: 9/12/15 at 11:12am

When I first purchased tickets in March for several dates, the good seats were $2xx, then I saw the $352 price at the box office and when I went 6 days later, it's now $477. I was looking for tickets for next spring and notice nothing but $477 tickets remain. Do you think this was a good move by producers and can this show withstand that price point? I know BOM sells out with those prices but I feel like BOM appeals to more people bc of the South Park connection. I'm kind of surprised LMM is ok with such a high price point since he seems to want to make theater more accessible. There's a difference between striking while the iron is hot and being ridiculous. 

[FindingNamo]

Posted: 9/12/15 at 11:17am

I'm not a fan of late stage capitalism but I can't imagine what it's like for creators and producers to suddenly find they have a hit on their hands with huge demand for tickets and to see ticket agencies selling them for five times the price, and getting it.  The show becomes "exclusive" and people with a lot of expendable cash pony up to their concierges who is a "genius" for getting them into a sold out show and still only in the three figures per ticket.

 

I'm not sure what I would do if I were they.  But I have to think watching people who have nothing to do with the production making multiples of the ticket price on their creation has to be distressing.

[BwayinVan]

Posted: 9/12/15 at 11:23am

At the end of the day it is business. If the producers and creatives are able to sell tix at a higher price point they are going to do it. Even though prices have shot up people are still willing to pay whatever they have to for tickets to see Hamilton. I know I really wanted to get tickets for my trip in April. Did I pay more for my Hamilton ticket than I will for any of the other shows I'm seeing? You bet. But to be able to see a show that will be part of musical theatre history  how could I not?

[Hellob]

Posted: 9/12/15 at 11:46am

I understand that the price is going to be what the market bears but my point is that the $477 tickets are the only ones remaining (in abundance). I'm sure as the dates get closer, they will sell since there's no other options. But if you were a producer, wouldn't you think you might have gone a bit too far? I also can't imagine LMM being unaware of the spike. If I'm correct with figures, he earns 6% per week plus  his acting salary. At $477, the secondary market prices will be insane. I got 2nd row for $600 and the others were complaining about that price. Now, we are going to see $1500 easily. It's kind of a turn off. Don't get me wrong, it's such a great show but at that price, I don't know, it just seems hypocritical to the whole theory of revolutionizing theater and making young people or those who think theater is stupid able to see the show. 

[FindingNamo]

Posted: 9/12/15 at 11:57am

But even if the center row orchestra were $167, secondary markets would still climb up to $1500.  I'm not a fan of these prices, but why wouldn't the producers try to get the money back on their own investment rather than seeing it go to scalping services?

 

Of course it's a turn off.  But that's capitalism.

[Huss417]

Posted: 9/12/15 at 11:57am

Prices have steadily been going up. I mentioned this several weeks ago the weekly grosses still list top ticket as 275.00. Not sure why that hasn't been updated.

[dramamama611]

Posted: 9/12/15 at 11:59am

People that think theater is stupid won't go regardless of the price.

 

When this last batch of tix went on sale, I got front row mezzanine for regular full price.  If you are willing to wait and plan, you don't have to pay premium prices.  My first set of seats were under a hundred for rear mezzanine.  Can't complain about that.

 

I really don't  care what people are selling them for in the secondary market.  THAT is beyond the control to the production.

 

Edited because I really should stop trying to post from my phone.  Damn autocorrect!

Updated On: 9/12/15 at 11:59 AM

[yankeefan7]

Posted: 9/12/15 at 12:06pm

My family of four went to see "Hamilton" last Sunday and loved it !! Our seats were in the mezzanine because we would not pay the "absurd" price for premium seats. We had no problem with the view or hearing the show, only problem is the theater has terrible leg room which has been addressed in another thread. I understand capitalism but these premium seats make it hard for the "average" theater fan to get really good seats. I actualy remember the days when I could actually afforrd to see a hit show and get a first row seat. 

[ZannaDo]

Posted: 9/12/15 at 12:11pm

I feel like this exact thread has been posted a few times but really, me and everyone I know who was looking forward to the show bought tickets more about 5 months in advance (we bought in March to attend the show in late July) and paid $142 for seats in row K of the orchestra, slightly off to the side. This is the hottest ticket on Broadway right now, and unfortunately, that means that you have to plan ahead or fork over the cash. I think they're doing the best they can by offering cheaper seats in the mezzanine (though these do sell out far in advance) and doing a $10 lottery (the cheapest on Broadway, as far as I know) for the entire front row every day. But personally, I'd rather the show charge what the market demands for premium seats and then the money goes back into the production, as opposed to paying a fortune and putting the profit in the pockets of some scalper who is part of the reason tickets were scooped up so early. 

[nasty_khakis]

Posted: 9/12/15 at 12:14pm

It's absurd that my last row Mezz seat cost $100 with fees.

I understand the logic that created premium tickets starting with the Producers. If scalpers and ticket agencies are buying them and reselling them for 3-4 times their original price, why shouldn't the production get the money? I just wish producers would commit more to making tickets more affordable. The ways I can think of to control scalping and reselling would be too much to handle though. Things like having ALL tickets held under you name and proof of identification required.

[rjm516]

Posted: 9/12/15 at 12:17pm

I wish there was a way for the production/theatres themselves to control remote ticket buying without using Telecharge or Ticketmaster (Ticketmaster in particular I despise more, but both should be illegal). I would feel slightly better about higher prices without the ridiculous fees for not living in NYC. 

But yeah, $477 is ridiculous. I just. What. When that becomes the new non-premium top price in a few years, I will cry. 

[Hellob]

Posted: 9/12/15 at 12:18pm

FindingNamo said: "But even if the center row orchestra were $167, secondary markets would still climb up to $1500.  I'm not a fan of these prices, but why wouldn't the producers try to get the money back on their own investment rather than seeing it go to scalping services?

there are some priced at $1000+ but the majority that actually sell are between $400-800. 

I agree that it's better to give the actual show $500 than a 3rd party but my question is if the $500 is sustainable for the long haul? It's on fire now but there's bound to be backlash and fatigue. And I wonder if there's an unknown psychological element that makes us feel better about paying a lot to a 3rd party rather than directly. 

 

 

 

Of course it's a turn off.  But that's capitalism.

 

"

 

[Mr Roxy]

Posted: 9/12/15 at 12:19pm

This is supposed to be a big shock?  Wait until after the Tonys.

 

It is all about the Benjamins when all is said and done. Will get the cast album to listen to the show. If I can get a naughty version fine. If not, so be it.

 

A poster above said it has been getting ridiculous. It went past that point a long time ago.

Updated On: 9/12/15 at 12:19 PM

[Hellob]

Posted: 9/12/15 at 12:20pm

ZannaDo said: "I feel like this exact thread has been posted a few times but really, me and everyone I know who was looking forward to the show bought tickets more about 5 months in advance (we bought in March to attend the show in late July) and paid $142 for seats in row K of the orchestra, slightly off to the side. This is the hottest ticket on Broadway right now, and unfortunately, that means that you have to plan ahead or fork over the cash. I think they're doing the best they can by offering cheaper seats in the mezzanine (though these do sell out far in advance) and doing a $10 lottery (the cheapest on Broadway, as far as I know) for the entire front row every day. But personally, I'd rather the show charge what the market demands for premium seats and then the money goes back into the production, as opposed to paying a fortune and putting the profit in the pockets of some scalper who is part of the reason tickets were scooped up so early. 

 

"I planned ahead and bought a lot of tix in March. I was just interested if the new PP was too high since that's all that's left. 

 

[Hellob]

Posted: 9/12/15 at 12:24pm

Mr Roxy said: "This is supposed to be a big shock?  Wait until after the Tonys.

 

 

 

It is all about the Benjamins when all is said and done. Will get the cast album to listen to the show. If I can get a naughty version fine. If not, so be it.

 

"I'm not "shocked" at all. Just curious to see if the market bears this price. Right now, it's sooo hot that people will pay bc you feel like you're missing out on the biggest thing ever. But as time passes, the album comes out, performances are snuck on YouTube or the cast performs on tv, the desire may lessen since you have more access to aspects of the show. 

 

[dramamama611]

Posted: 9/12/15 at 1:12pm

Yes, EVENTUALLY, prices will calm down....but who knows how long that will take.  Last time I looked at the grosses, BOM still held the highest ticket sold....and that's been around for some 4 years.

I have my second viewing in Feb.  Will I purchase MORE tix?  Maybe, maybe not.   I'm sure I won't even try until the next batch gets released.

[dramamama611]

Posted: 9/12/15 at 1:22pm

And by the way.....I only check two dates quickly and not only found seats in the 300 range, but even found a few on both dates for $177. (some even in the orchestra)

[Mr Roxy]

Posted: 9/12/15 at 1:27pm

Nice to see Miranda wants to make theater more affordable for the masses. Masses of what ? Millionaires

 

It gets funnier by the minute. Sad thing is that all those young people who Broadway courted in the past may no longer be able to afford it. Barnum was right: This is a sucker born every minute. .

 

I have a lifetime of memories of shows, good & bad I have seen and for about the last 18 years with my wife. Add to that the videos & cd's we have. We see an occasional theater through papering services. Feel sorry for those who want to go but will not be able to. Imagine tourists coming in to be hit with this type of sticker shock. Hell, Vegas is nowhere near as expensive.for shows.  Ditto for the hotel prices.

 

Imagine prices 5 years from now. From the Fly remake: Be afraid - be very afraid. 

[dramamama611]

Posted: 9/12/15 at 1:38pm

And people have been saying these kinds of things for DECADES.  Yes, it's expensive,  Either you think its worth it, or you don't.   I don't pay full price for many shows, but I do occasionally.  I will never buy from a scalper nor will I pay premium prices.  (Well, maybe premium WHEN I win the lottery.  Once.)

[mariel9]

Posted: 9/12/15 at 1:39pm

Yeah, I'd be more comfortable with the insane premium prices if the balcony was cheaper. That way the producers & creatives could cash in on some of the secondary market while providing more than lip service to the idea of making theater more accessible and bringing in new audiences. When I've brought up Hamilton to my friends, they say it's too expensive and they're not talking about premium or even $175 mezzanine. These are social services, white collar professionals who go to theater but have to be frugal about it. They sit in the balcony, and Hamilton's balcony is expensive.

And, as much as I love the lotto, 32 seats given out by chance (esp where chance is slim due to interest) is not doing anything to reach new audiences. It's a business and they've got a monster hit on their hands, but they could charge $450 for premium and $60 for balcony, still make bank, and maybe get some new people into the theater.

[ZannaDo]

Posted: 9/12/15 at 1:49pm

Okay, here's my question. If tickets were cheaper, how would that help the problem of not being able to get seats anytime soon? The show would just move the tickets even faster if the prices were lower, and you still wouldn't be able to go for months and months. There are cheap tickets to the show, rear mezz tickets start at $57.00. That's more than reasonable, at least to me, but yes, you will have to buy them WELL in advance to pay that price.

The truth is that nobody is entitled to a great seat to a show that's selling out at a rock bottom price just because they want it. Broadway needs to make money. MOST Broadway shows are a huge financial loss for producers. You wanna keep seeing original musicals without stars in the cast make it to Broadway? They gotta make money off a Phantom or a Hamilton every so often.

[dramamama611]

Posted: 9/12/15 at 2:18pm

Additionally, if there WERE much cheaper tix (BTW, no balcony for Hamilton) scalpers would snatch much of them anyway....just like they already are.

 

To me, the real "enemy" is the scalper.  I wish something could be done about them.  Between the huge amount of tix they seem to be grabbing as well as driving up the price, they are the biggest culprit.

[haterobics]

Posted: 9/12/15 at 2:20pm

If they wanted to keep prices lower, the Richard Rogers could try to be the first venue to do paperless ticketing and make it very strict on how that worked, usually linking the tickets to the credit card used to purchase them, and requiring a swipe to print out ticket stubs as you enter the venue, with no other options.

 

But, currently, New York is the only state that makes that sort of option not a possibility. As the ability to transfer a ticket is codified into law. For U2's current tour, the MSG dates were the only ones where people got a transferrable ticket, which made out shows sell out faster than others, with scalpers making money hand over fist as a result, as we were the only city on the tour where people without tickets could fly in and have any chance of getting in...

 

Louis CK said the current model is if you want to prevent scalping, you are told you have to keep pricing your tickets higher until it makes it a risky investment for scalpers. And that is the system we have now. He did his previous tour in venues where he could manage his own ticketing and he hired scalpers to find the location of tickets being scalped everywhere online, and e-mailed those customers saying their tickets would only be available at the box office where they would have to immediately enter the venue without being able to hand them off to someone else, or they could also cancel the transaction. Most people canceled them, and he put them back on sale for $45.

 

But it is dynamic pricing, as soon as Hamilton tickets don't sell at that level, they'll come down in price. And remember, it is impossible to tell how soon that will be, since all of the tickets under that top point are still being bought by scalpers, so there will be a HUGE dip and correction at some point, where people will be able to get in to the show for under face value, as they are currently selling out shows to people speculating this will continue for longer than it actually will...

[Hellob]

Posted: 9/12/15 at 2:31pm

ZannaDo said: "Okay, here's my question. If tickets were cheaper, how would that help the problem of not being able to get seats anytime soon? The show would just move the tickets even faster if the prices were lower, and you still wouldn't be able to go for months and months. There are cheap tickets to the show, rear mezz tickets start at $57.00. That's more than reasonable, at least to me, but yes, you will have to buy them WELL in advance to pay that price.

 

The truth is that nobody is entitled to a great seat to a show that's selling out at a rock bottom price just because they want it. Broadway needs to make money. MOST Broadway shows are a huge financial loss for producers. You wanna keep seeing original musicals without stars in the cast make it to Broadway? They gotta make money off a Phantom or a Hamilton every so often.

 

"

I just find it unsettling that this show is marketed as the show for young people and those who think theater is cheesy. This is supposed to be a revolution but how is it a revolution when the majority of audience is over 50 and white for all 5 times that I've attended (at the lower ticket prices)? LMM has spoken about this in numerous places but how if they've been priced out? 

[Hellob]

Posted: 9/12/15 at 2:32pm

dramamama611 said: "And by the way.....I only check two dates quickly and not only found seats in the 300 range, but even found a few on both dates for $177. (some even in the orchestra)

 

"What weeks are you looking? I was in March. Thanks