Anne Steele

speaker

61 appearances 1 recordings 1 series first heard Oct 2023 last heard Oct 2023

Anne Steele’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Why the IRS Wants to Know About Your Eras Tour Tickets · 3 Oct 2023 podcast

To be clear, if you've sold a ticket and profited any amount in the past, that technically always has been considered taxable income that you're supposed to report to the IRS.

But what we're seeing now with these changes is that it's going to be a lot harder to kind of skate through with those.

The IRS wants to capture that income and that revenue.

These were the hottest tickets with the highest demand this year.

So these were really, really tough tickets to get.

And if you did get them, you were likely paying a huge markup on the secondary market for these shows and games.

The average price for a Taylor Swift Heiress Tour ticket on StubHub was over $1,000 and really the best seats were going for multiple thousands of dollars.

People were paying $2,000 for nosebleeds by the time this tour really got going and it became just this cultural touchstone event.

The average for Beyonce was $380, $400 for Harry Styles.

And after Messi joined the MLS, the price of tickets to inter-Miami matches shot up to $255.

Previously, I think the average was like $30.

So significant markup.

This is just good old supply and demand.

There is just not enough of Taylor Swift to do enough shows to accommodate all of the people who want to go and see her.

So that just increases the value of those tickets.

So we are just seeing so much demand for these shows, especially after the pandemic.

People are ready.

They have been ready to come out and see their favorite acts again on the road, and they're willing to shell out for it.

And a lot of those are the price for resale tickets, correct?

Yeah, so if you were a lucky fan who scored six face value tickets to the ARIS tour, maybe you kept three or four tickets, you went with your best friends, and maybe you sold the others and covered the cost of not only those tickets but some merch for yourself.

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