Last week we published an article on Forbes about Miley Cyrus Bangerz tour and the fact that tickets on the secondary market aren't moving too well and that some tickets are even priced below face value. Here's some of the article:
When Miley Cyrus famously twerked her way into America’s living rooms, she certainly got into America’s collective head, if not their hearts. In the weeks after her VMA performance it seemed that America could not stop talking about or debating the meaning of Miley. Was this the real Miley, or just an act to break out the Hannah Montana mold? Was she a marketing genius, or all that is wrong with our modern publicity machine? Regardless of what side of the debate you came in on, the one undeniable outcome was that it got people talking…. a lot. The discussion continued with the release of her Bangerz album and the accompanying number one position on the Billboard hot 100. Demand for Miley Cyrus tickets for her Bangerz tour, however, have softened after that peak in popularity, resulting in lots of empty seats and dropping prices in the secondary market.
According to Google searches for ‘Miley Cyrus’ peaked the week of August 25th, immediately after her appearance on the VMAs. Riding the wave of popular chatter and news cycle ubiquity, prices for the Bangerz tour were set aggressively high for a singer with a catalog of hits that you could count on one hand. By the time tickets actually went on sale for her 38-city Bangerz tour, ‘Miley Cyrus’ searches has dropped by 80%, to the same level it had been at over a year ago. Based on TicketIQ’s data, the average secondary market price for Miley’s Bangerz tour is now $182, which is down from over $225 just two months ago.