The immense popularity of Broadway shows and the consequent high demand for show tickets has led to an enormous growth in the market for Broadway tickets. This is evident from the emergence of secondary markets catering to the needs of a large number of people, who enjoy Broadway shows.
The secondary market for Broadway tickets comprises of a large number of companies that buy tickets from authorized sellers of show tickets and resell them after adding their margins to the prices. The ticket prices in the secondary market are usually higher than the original ticket price as the agency incurs expenses in procuring the tickets from the original source.
Companies in the business of selling Broadway tickets typically own websites where tickets for various shows are listed. The listing is categorized by cities and the schedule of the Broadway shows in each city. The booking for tickets can be done online at ticketgaga.com or over the phone. The mode of payment accepted by such websites selling Broadway tickets includes major credit cards, cashier’s check or money order. Most companies, which are a part of the secondary market for Broadway tickets, guarantee availability of tickets with options to book premium seats.
The operation of the secondary market however, has an adverse impact on many theatre lovers as it prevents them the convenience of getting tickets at the box office. This is particularly true in the case of less affluent people who are unable to afford the high price of tickets in the secondary market. The companies operating in the secondary market buy tickets in bulk creating artificial scarcity and thereby higher demand in the market. This also enables these companies to reap huge profits by quoting very high prices for tickets.
Ticket brokers working in the secondary market end up bribing those responsible for selling tickets at the show venue such as the box office employees, agents, and venue managers. This cost is invariably covered by way of charging additional price for the tickets making the popular Broadway shows well beyond the reach of the vast majority of citizens in this country.
The existence of Broadway ticket secondary market has both positive and negative implications. While it ensures the availability of tickets and helps avoid last minute disappointment for many people, it also encourages corrupt practices and prevents many theatre lovers from being able to watch their favorite Broadway shows.