Besides Artist, Venue and Location is by far one of the most important factors when determining what tickets to buy. A lot of different factors go into determining a good venue and a good location.
Here are the factors you should consider when picking out a city and the venue.
1. City Population
The larger the population the better the results we can expect. More people in a densely packed area just means there are more people who might be willing to pay for concert tickets in that city. This raises demand and is good for us as Ticket Flippers.
2. Wealth of the City
The wealthier a city is, and the more affluent the location, the better the chances for the show to sell out. A wealthy area means that people will have money they would be willing to spend on concert tickets. For example a venue in central New York would do better than a Venue in south-side Detroit because there is a similar population density but a difference in wealth.
3. Venue Location
Where a venue is located within a city determines how easy it is for someone to get to the show. If the actual concert is located 45 minutes away from the main populated area of a city is might affect the amount of people actually willing to go. The more central of a location the better.
4. Venue Capacity
The size of the venue is very, very important. If an artist usually fills venues of about 3,000 people and all of a sudden he is performing in an arena with 10,000 seats or general admission tickets it is hard to predict the likelihood of selling out. But if an artist fills up huge arenas and is now performing in a small venue, there is a very high probability of that venue selling out fast.
5. Venue reviews
What people think and say about the venue is also important. Although most venues are decent and the Artists has a greater influence, a bad venue with bad sound and views will lower the sellout rate.
6. Past Performance of the Venue
A venue in a rich, highly populated area can cause many shows to sell out even if they would not normally sell out. A venue with a generally high sellout rate in the past can be a strong indicator of how well the tickets will do. In our other segments we go into detail explaining which venues are best and where you can always count on selling out tickets and making a profit.
