Taylor Swift is once again making headlines, this time for pre-sales of her Eras tour, most of which have hit the secondary market, leading to out-of-control supply and demand issues. Currently, the average ticket price for Swift's concerts sits at $1,400 on TickPick.

Matt Ferrel, TickPick VP of Growth, joins Yahoo Finance Live to discuss this phenomenon and give insight into consumer behavior

"We would see people start price comparing, with these ticket prices, what is the cost of a hotel? What is the cost of a flight?" Ferrel says on the logic behind experiential consumer spending. "And there are certain markets where you could actually justify flying to, to actually get a cheaper experience all-in because of the level of cost for this particular tour."

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Video Transcript

SEANA SMITH: What did you see just from your data in the ticket sales for these NFL games? How big of a jump are you seeing on your platform?

MATT FERREL: Yeah, it's funny. I mean, we just got a update today that Taylor is rumored to be at the Chiefs-Broncos game. So we'll see what the long-lasting effect is going to be of what that jump is. But we did see a fairly substantial rise for the Jets game.

We saw an increase of nearly 63%, and it was one of our top selling games of the year once the announcement was made that Taylor was going to be there. So it really becomes sort of an interesting ancillary benefit to two very compelling teams and compelling markets. But it also shows, as mentioned, like she brings a fan base of her own outside of the NFL audience.

- And Matt, going back to her tour, I'm curious from your perspective in this business, was the Eras war a once in a lifetime phenomenon in terms of the reaction, the demand? How did it stack up compared to some of the other live concerts and events on your platform?

MATT FERREL: You know, I've been in the live event space for a long time putting on tours. And would I call it once in a lifetime? No. Would I call it a absolute milestone tour? Absolutely. When we talk about the volume of seats and the average ticket price for this tour, as mentioned, it really got quite severe in terms of the cost. I mean, to put in context, the average purchase price was around $1,400 a ticket.

Now, the average concert in 2023 is $188. So we're talking about most venues are not the size of football stadiums, and she was still able to drive that demand. The next closest we're looking at is the Adele residency in Las Vegas. And that reached $1,300 a ticket. But that venue pales in comparison to the size of what Taylor was playing. So it really was quite an anomaly in the touring space. And as you mentioned, it may be a once in a lifetime experience.

BRAD SMITH: Matt, Matt when you looked across the different cities that we're seeing, perhaps the biggest sales or at least maybe the biggest overlap because I would imagine that there's some data where you could see where someone is actually purchasing from versus where the event is actually taking place, how much of that overlap were you seeing, people willing to travel in order to see these concerts?

MATT FERREL: Yeah. I mean, I think you see it in the major metro markets. New York and Los Angeles obviously having the most volume of shows. And we saw people willing to make a summer trip out of it. The tour concluded-- at least the front half of the tour. She will be playing dates in 2024 in Los Angeles. And we would see people start price-comparing, all right, with these ticket prices, what is the cost of a hotel? What is the cost of a flight?

And there are certain markets where you could actually justify flying to actually get a cheaper experience all in because of the level of cost for this particular tour. So we did see a number of markets that drove more out-of-state transactions than others. But yeah, we saw the same with Beyoncé as well, people flying to Europe to go see her Early Days Tours for this particular tour.