Jmblya is a one day music festival in Dallas, Austin, and Houston that starts ticket sales as early as five months before the day of the event, and buyers who purchase their tickets when the ticket sales start, don’t know the line up, but they are only paying $25.
Dallas is having Jmblya at Fair Park on May 4, 2018. On December 15, 2017, Jmblya started selling “Early Bird” tickets at $25 for about a week until they sold out. Consumers willingly bought tickets without knowing the line up because the price was so low, resulting in the shortage of Early Bird tickets. This shortage demonstrates how the low price caused a high demand for tickets. As a result of consumers buying all the Early Bird tickets, General admission then went up to $50-$60.
Prices for general admission and the various packages including: The “Pinky Ring” ($149), “Gator Boots” ($169), and “Fur Coat” ($299) remain constant for about two weeks until Jmblya’s official twitter announced that with every round of the line up reveal, the general admission ticket prices would go up.
Round one announcements were on February 2 2018, making prices rise from $60 to $65. People who liked the artists announced in round one, were willing to pay an extra $5 to go see an artist they like. This rise in ticket prices and people still buying tickets shows how the consumers demand is elastic and they are willing to pay the extra money. This could also show the rise in demand as people try to get tickets before prices rise again.
Round 2 was announced on February 5 2018, bumping up general admission to $70. This had the same impact in ticket sale as the last announcement, creating a higher demand for a cheaper ticket before the prices rise again.
The final announcement, on February 9, 2018, general admission ticket prices went up another $5. With the headliner announced, people will feel encouraged to attend Jmblya. The final announcement will create a shift in demand depending on how much people want to see the headliners.
While general admission prices were rising, the VIP packages remained at the same price. The VIP tickets promote things like: Jmblya hats, shirts, bandanas, access to the VIP bar and restrooms, which would make demand higher for the more expensive packages because consumers would be getting more for better price.
Picture Source: https://thebeatdfw.com/events/jmblya-2018/
21st Century Citizenship 