NEW YORK (TheStreet) -- In 2011, 230,000 ravers descended on Las Vegas for the Electric Daisy Carnival. In 2012, 320,000 people came to Vegas for the electronic dance music festival. In 2013, the number jumped to 400,000 and is poised to go even higher as tickets for the pricey festival continue to be hot on the secondary ticket market.
Electric Daisy Carnival has become one of the most defining concert festivals of not just the U.S. rave and electronic dance music scene, but the entire American concert landscape. While there is no shortage of entertainment options in Las Vegas, Electric Daisy Carnival is a destination event that attracts electronic dance music fans from around the world.
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Tickets for this year's concert, to take place in June, will start at a face value of $329 for a 3-day general admission ticket, and $699 for a three-day VIP pass. Electric Daisy Carnival tickets are in high demand, as secondary market ticket prices for each of the past two years have checked in significantly above face value for a completely sold out festival.
In 2013, Electric Daisy Carnival tickets sold for an average of $477.58 on the secondary market, with the least expensive three-day pass selling for $225. Last year, while average ticket prices actually declined 3% from 2013 to $463.27, the least expensive three-day passes available sold for $400. This get-in price reflects a premium of roughly 78% over the year prior.
Last year's least expensive pass sold on the secondary market also reflects a 60.6% premium over the least expensive ticket available at face value directly from the box office, which was the three-day GA pass for $249. About half the price of VIP passes, which sold for a face value of $499. With the substantial secondary markup in years past, it made sense for Insomniac Events to raise box office prices even further this year.
Given that the average secondary market sales price of last year still exceeds face value for this year's festival, it stands to reason that ticket brokers will still be competing against festival goers for face value tickets. Undoubtedly, Electric Daisy Carnival's popularity and hype have not subsided whatsoever, and the festival remains one of the most sought after Vegas concert tickets in any given year.
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