According to this article, the recent lineup change from Enrique Iglesias to Nicki Minaj has sent fans of Britney Spears into a tizzy. Nicki Minaj is a top 40 artist, but also she has a lot of fans who only listen to rap. With Minaj being added to the lineup, she brings in a whole new demand of people who don't really listen to Britney, but listen to Nicki. The demand for Britney Spears coming to a town near you is high, but with the addition of Nicki Minaj, the demand goes up even more. Britney and Nicki create a power team, bringing together the demands from two different genres. With the added demand, the original ticket prices will be below equilibrium; there will be a excess in demand. Everyone will jump on the chance to get to see two impressive acts for a low price. Once the tickets sell out in the snap of the fingers, there will be many people left who are without a ticket. Ticketmaster/Livenation, the company that sells the tickets, should look at the amount of excess demand they will have as a result of adding Nicki Minaj to the lineup. Then the company should raise ticket prices to try to reach equilibrium, meaning that there will not be any excess demand or excess supply. This might not be achieved, but it will help the ticket company make a bigger profit as well as help the artists make more money off the tour.
-Caitlin Harrington
Nicki Minaj and Britney Spears are two famous and successful and talented artists. Britney has had several concerts of her own and has some sold out and has been performing alone for much longer than Nicki Minaj. Nicki is a more recent artists, who has become just as famous as Britney was and maybe even more so. By putting the two talented artists together into one concert could be an upset. By putting them together the concert will sell out, but if they were to separate them they both would be sold out, resulting in a higher profit. By putting Nicki and Britney together it raises the demanded faster than putting them separate. Putting the two together would result in excess demand, because it will only be one concert, which means less people are able to go to this one concert than separating them. Although ticket prices shouldn’t change to see them together or separated, because it’s the same concert just shortened from both artists. Although people will be trying to buy their ticket last minute that should be the only time that the prices go up. But no matter what they do to the price, combining Nicki MInaj and Britney Spears will still result in excess demand.
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