Price adjustments on Stones shows in L.A. and elsewhere reflect a “flex pricing” strategy and attempts by promoter AEG Live and the Stones to keep tickets out of the hands of brokers, according to John Meglen, co-president of AEG Live subsidiary Concerts West, promoter of the Stones’ 50 & Counting tour.
Meglen adds that reports of deep discounting and sluggish sales are inaccurate, and the shows are coming off well. “It’s unfortunate in our business that everybody wants to be cynics,” he tells Billboard.biz. “The fact is, the tour is doing great and we have no problems whatsoever.”
The tour is on a pace to gross close to $100 million from 18 shows. Meglen, calling from the Oakland airport following the second of two Stones sellouts in the city, says that, as opposed to discounting (Meglen has long expressed his distaste for the practice), certain tickets in the lower bowl are “flex priced,” going up at the top P1 price of $600 at on-sale and moving to the second tier of $450 when and if sales stall.
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