Live Nation has been caught in the act, scalping tickets for a July 31 Drake concert at the Molson Amphitheatre in Canada. Somehow around 100 tickets that had a face value of $94 each for Drake’s July 31st concert were found and released through Ticketmaster at $300 each as VIP tickets.
Apparently the show had been selling well on the secondary market because Drake is from Canada, so Live Nation decided to release the tickets as VIP tickets to take advantage of the fans and earn some extra cash. At the time of the ticket release ticket brokers were selling similar seats for around $200 each.
Unfortunately for the fans this will be the standard for many concert tours. Tickets for good seats will be held back and scalped when the market is right by Live Nation and Ticketmaster for the artist and promoter. And this is one of the reasons that paperless tickets should be transferable, to help keep the scalpers in line.