Despite reports Jay-Z is currently struggling to sell tickets in certain markets, Billboard posted an article claiming the “4:44 Tour” is making plenty of money. In fact, the trek is said to be Jay’s highest grossing solo tour of his three-decade career.
Omar Al-Joulani, VP of touring at Live Nation, told the publication, “This tour will be the biggest headlining tour of Jay’s career.” He also added that Hov has already sold more tickets for the “4:44 Tour” than the entire “Magna Carta Tour.”
Sales for JAY-Z’s tour represent a paradigm shift in concert tickets: by more aggressively pricing front row seats, VIP experiences and platinum tickets, concert promoters are getting increasingly more skilled at commanding high prices and record grosses from their best seating inventory. That’s bad news for ticket resellers — by pricing tickets closer to actual market value, JAY-Z and Live Nation are capturing more revenue and creating little room for brokers to mark up the best seats.
According to the outlet, Jay is grossing seven figures per night. While the Hip Hop legend is able to add millions of dollars to his net worth, fans are still able to purchase lower priced tickets on StubHub.
“This might be the future of ticketing,” said Eventellect’s Patrick Ryan. “We are seeing many creative pricing strategies and we are seeing artists find what works for them. You generate a ton of revenue up front, but you still have a $25 price point that makes it more affordable for individuals who want to see an arena show.”