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Business here now with the country ticket crack-down, good morning. cheryl: good morning, again, guys, country star footing foot down in the fight against scalpers, 25,000 tickets bought by scalpers, they are out of luck and fans are going to get tickets for face value. the singer has been battling scalpers and eric church.com explains why he made the decision. basically a criminal organization that s making millions. he s also adding shows in washington and in oregon. third-party brokers can sell tickets in average of 49% market-up, sometimes a lot more. face value tickets between 25 and $89 plus you ll pay a small service fee. scalpers were selling them as much as $800. the tickets are going to to be ....
Values, and above all the same purpose. to promote peace and prosperity through freedom, democracy, and of the rule of law. and to those objectors, we will remain committed. as for our friends in los angeles, bad news for l.a. drivers. the city is ranked worse in the world for gridlock. a study estimates drivers sat in traffic for 104 hours last year, losing more than $2,000 in time and gas. singer eric church continues his battle against scalpers. the singer canceled 25,000 tickets so at shows on his tour, bought by scalpers and put them back on sale for his fans. he says he is trust frustrated very few of them are caught and prosecuted. it s been called the most progressive weapon of all time, a phone used by adolf hitler ....
Reporter. she crunched the numbers and has all the answers for us. good to talk with you, anna. so how exactly does raising the cost of the premium seats stop the scalpers from makeing all the money? and what impact will this have on the other tickets going forward? right. so the thing with hamilton was up until now prices that were i think sold by the actual production were fairly reasonable for a broadway show. you could get a ticket for $150 for a seat. what s been happening with technology and these so-called bauts software would go in and buy a lot of tickets in bulk before you or regular fans could see them. so when the gap between the price that they were selling them and the price they could get someone to buy on stubhub, that s a big incentive for them to keep doing it but when hamilton themselves are charging $849 for a premium seat, the ....
Smash broadway hamilton tells the story of alexander hamilton and it s been bringing people back to the theater from former president obama to current vice president mike pence. and since july 2015, it has sold more than 868,000 tickets and hamilton has been a victim of ticket scalping. so it s producers increased the price of the premium seats to keep scalpers from buying them. they now cost $849 a piece. way up from the old price of $475 and it may be working. an analysis by the financial times shows the resale of hamilton tickets has plunged by nearly half since the price changed. with more on this bold approach to ticket sales, i m joined by financial times ....
Actual difference on the secondary market is quite a bit smaller. so it doesn t entirely take away their incentive to do it but it s material reduced it. it s a strategy that seems to be working for them so far. when we looked at the numbers and saw pretty much 50% drop immediately and the number of listings for tickets on secondary sights when they raised it price. hamilton has been a success on broadway. the play a has grossed almost $166 million. how much more money could the play have made had it not been for ticket scalping? quite a lot. so we took a look at this last year and saw that so for example, a few months ago they set a record for broadway, $3.3 million in one weekend from tickets. but we saw they were actually missing out on 2.6 million a week from these secondary scalpers so it s almost double ....