Travis Scott's 'Utopia - Circus Maximus' tour was palpable as tickets quickly vanished, but a significant portion ended up in the hands of resellers, notably a group known as PFS Buyers Club.
Surprisingly low demand has resulted in ticket prices plummeting, with some of Travis Scott's upcoming shows struggling to fill seats.
Their game plan involves strategically using credit cards to purchase large quantities of tickets for hot-ticket events, with the aim of reselling them for profit and maximizing credit card reward points.
Club members typically pocket a commission per ticket, amounting to $25 in the case of Scott's tour.
While the resale market in some Canadian cities is thriving, where tickets are fetching double their face value, the outlook is markedly different in many other locations.
A case in point is the upcoming Charlotte, NC date, where tickets are being listed for as little as $14 on StubHub.
This downturn in demand is causing a liquidity crisis for resellers, including outfits like PFS Buyers Club, who now face potential losses exceeding $1 million from Scott's ticket inventory.
Interestingly, it appears that resale prices for the shows may follow an unusual trajectory, potentially rising as the tour progresses. The evolving dynamics of the resale market continue to captivate both fans and industry observers alike.
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