This afternoon PRS for Music revealed some exclusive figures from Groupon about ticket purchases. Out of a sample of 4621 people who purchased ticket deals via Groupon: 30% were music deal purchasers; 74% of purchasers were women; 41% were aged between 25 and 34 and a further quarter were aged 35 to 44, so it’s not the teen market but older casual buyers skewed female that are purchasing these deals; 91% would not have bought a ticket at its full price; 42% bought because of the deal and 94% were likely to attend a similar event (i.e. at a similar price). Only 13% bought because they were a fan, which suggests that most of the purchasers were spending money that otherwise would not have been spent on that ticket.
The figures point to a new market opportunity and suggest that price is a key determinant, but the caveats are that this is a study coming from Groupon itself and the sample size is relatively small. A key concern from the subsequent panel discussion was the devaluation of music as a premium product using these sorts of discounting deals, with PRS for Music chief economist Will Page commenting that “what’s fascinating about this debate is that theatre already has a discounting culture, but music doesn’t. Indeed the opposite: concert ticket prices have gone up during a recession and demand rose with it. The question this panel at Eurosonic was asking is this: once you introduce a discounting culture, will it ever go away?”