Thursday, January 27, 2011

Coachella Sell-Out Means Someone's Getting Rich on StubHub

If you were holding out on buying tickets to this year's Coachella Music and Arts Festival in Indio, California, you're out of luck says Yahoo! Music: Passes for this year's fest have sold out in record time, just a week after the lineup was revealed. Whether it's the draw of Kanye West's headlining gig, performances by Kings of Leon, Arcade Fire, and the Strokes or the reunions of Big Audio Dynamite and Death from Above 1979, this year's festival was a hot ticket, and yesterday Coachella delivered the bad news to tardy fans on Twitter that tickets are gone.
The sell out likely means Coachella won't have to rely on some last-minute addition to help move surplus tickets, so apologies to those who bought tickets hoping that Daft Punk would be a surprise headliner on Friday night. In 2008, Coachella organizers stealthily added Prince to the bill as the Saturday night headliner to rescue sluggish ticket sales. Since single-day ticket options are usually offered for Coachella, fans could pick and choose what day they wanted to head to Indio depending on the bill. However, last year organizers decided to do away with the single-day option and only offer passes for all three days. They also sold more tickets than ever before -- 75,000 -- meaning the polo grounds were more crowded than ever, a fact that outraged many longtime attendees. Despite outcry, all tickets for the 2010 fest sold out (organizers haven't announced how many yet), a feat Coachella has now accomplished for the second straight year.How in demand was this year's Coachella ticket? Over on StubHub, car parking passes, which would allow you to enjoy the camping grounds at the festival but not the music, are going for around $650, nearly twice the box office price of a three-day pass that included parking and music. A ticket to all three days of the music festival itself is going between $850 and $5,000 per person, so Coachella tickets were actually a great investment opportunity if you acted quickly enough.

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