Conn. theaters work to fill seats as cost of tickets rises
Mike Moran Jr. knows the chasm between tickets prices for “Rudolph the Red-Nosed Reindeer” this weekend at his Palace Theatre in Stamford versus those for Taylor Swift’s “Eras Tour” appearances next year, which are currently reselling north of $600 for her MetLife Stadium shows.
But if Swift sticker shock is boggling many fans, Moran is quick to point out that The Palace’s prices remain very much in check — not just in the context of local shows since the COVID-19 pandemic, but compared to 2019 and before as well. While costs have gone up on everything from staffing to utilities for The Palace Theatre, for Moran, getting paying customers into seats is job one and price matters in whether they will pony up for tickets.
“We have tried to keep our ticket prices pretty much level for the past several years,” Moran said. “We did ‘Rudolph’ in 2018, and my tickets ranged from $46 down to $26. We’re doing ‘Rudolph’ this coming Saturday, and my tickets range from $55 to $25. The lowest ticket price has actually gone down a dollar, and the highest has only gone up by $9.”
Whether blockbuster
shows or smaller tours and local productions, stage acts across theater and performing arts were able to put together a solid 2022 season after the disruptions of last January when the omicron variant of COVID-19 sent many people back into pandemic hibernation.
Just over 24 hours in advance of the Wednesday afternoon “Ghosts of Christmas Eve” show by the Trans-Siberian Orchestra at Mohegan Sun Arena in Uncasville, only about 300 tickets were available via Ticketmaster, though plenty more were available from ticket holders on the resale market.
On social media pages for both Mohegan Sun and Foxwoods, teasers for upcoming concerts and shows — including “Pentatonix: A Christmas Spectacular” at Mohegan Sun and a Chevy Chase Q&A accompanying a Foxwoods screening of “National Lampoon’s Christmas Vacation” — drew enthusiastic comments online, with prices not a point of discussion. Representatives for Foxwoods and Mohegan Sun did not respond immediately to a request for information on ticket-price trends for the holiday season and into 2023.
Ticketmaster owner Live Nation Entertainment reported last month that ticket prices for this year’s concerts and festivals are up 17% this year, compared to the first nine months of 2019. Tack on spending once attendees are inside the gate, and the company is seeing spending as much as 30% above pre-pandemic levels.
U.S. Sen. Richard Blumenthal, D-Conn., has called for a federal investigation into Live Nation’s market heft in setting prices, arguing there are too few competitors today to keep its prices in check. Executives vowed earlier this month to work with federal authorities and counterparts in New York.
“Overall, a concert ticket is still a really affordable ticket — the majority of tickets sold are $60 to $75,” said Live Nation CEO Michael Rapino, speaking in early November on a conference call. “Although we have a great premium business — and that does attract a high-end customer or someone who’s a rabid fan — our business is split from clubs to theaters to stadiums, [and] we are seeing demand on all levels.
“We do think we have something for everyone,” Rapino added. “It is a very accessible ticket — even in a pull-back time.”
But at smaller performance theaters, ticket sales did not bounce back to pre-pandemic levels for the 2021-22 season, according to a study of 15 venues nationally by JCA, a New York City-based firm that offers revenue consulting services for the industry. JCA cited the omicron variant of COVID-19 as one factor, but added overall demand remains dampened for many theaters.
JCA contrasted 10 theaters that raised prices against 10 that held the line or lowered them, and found little difference in the number of tickets sold for each cohort. Still, to curry a base of patrons across income levels, JCA said, theaters need to be mindful to keep affordability in mind.
“The patrons who are not returning ... are those who were purchasing less expensive tickets,” JCA analysts wrote in the study. “A price increase will likely not have a detrimental effect. However, for the sake of audience development and attracting new buyers, you must have price points available to accommodate for willingness to pay across multiple segments.”
In a 2018 study spanning ticket prices for concerts, theater and sporting events, Government Accountability Office researchers determined that many are sold for below the market price, as exhibited at resale in the secondary market on websites like StubHub and SeatGeek. GAO determined that ticket vendors were getting between 27% and 31% of the ticket’s face value at purchase.
For the 2021-22 Broadway season that ended in June, the average price for a musical was $132 as calculated by The Broadway League, about $6.25 more from the prior season’s average, a 5% increase. The COVID-19 pandemic had a hangover effect on last year’s holiday season, with The Broadway League reporting that multiple performances were canceled in December 2021 and last January.
A spokesperson for The Broadway League could not be reached immediately this week for updated data on the current season.
Moran said The Palace looks to price shows to break even at two-thirds capacity, with the potential to profit with any margin beyond that. But any number of factors can play into how any theater sets prices, to include seating capacity.
Moran said tickets for “Rudolph” are still available for this weekend as well as for the Connecticut Ballet’s performances of “The Nutcracker” in mid-December. Prices for the latter show are flat from a year ago, Moran added.
“It’s a family show — it’s not like its some superstar pop artist whose going to sell two million tickets,” Moran said. “I try to keep that in the forefront of my thinking when I do these shows.”