Photo: WENN
The promoter of the Rolling Stones' current 50 & Counting tour has hit back at claims of poor ticket sales, saying it will gross $100million.
Tickets for the band's concert at LA's Staples Center originally did not sell out, as they cost $600 - but the band apparently slashed the price to $85, allowing fans to buy tickets and ensuring that the band were not playing to empty seats.
However, John Meglen, co-president of AEG Live subsidiary Concerts West, said that cutting prices was always the plan. He told Billboard, "It's unfortunate in our business that everybody wants to be cynics. The fact is, the tour is doing great and we have no problems whatsoever."
Meglen went on to say that it was part of a 'flex pricing' strategy, aiming to avoid concert ticket scalpers. "Did we hit a point where we ran out of people that would buy at $600? Yeah," he said.
"But why can't we do the 'market value’ thing? Why do we have to let the market value proposition live with the scalpers? Why should, in my estimation, $3 million go to the brokers, instead of the artists, in every one of these markets?"
Rolling Stones are set to gross $100million by the end of their tour
Meglen also denied the fact that ticket price had been cut, saying that they had no need to do so. "There are no $600 tickets turning into $85 tickets, I can assure you of that," he finished.
The tour is likely to gross $100million from the 18 concerts that the band have planned.
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