After an initial furor over jaw-dropping levels of ticket prices, global soccer fans may be starting to see some relief — at least in the resale market.
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Prices for more than 90% of World Cup matches are coming down on resale sites such as StubHub and SeatGeek, according to data tracked by analytics group TicketData.com. The trend was first reported by The Athletic.
FIFA, the international soccer governing body, has sparked outcry for pricing tickets seemingly out of reach for many fans. To this day, lower-bowl seats for many group-stage matches cost more than $1,000.
Now, as it releases a third batch of tickets, the average resale price is declining — by about 24% from a month ago and by about 8% over the past week. As of mid-May, the average resale price tracked by TicketData for “get in” tickets, which tend to be the lowest-priced option, for Group Stage matches is about $560, down from $720 a month ago.
“Prices are going down because there’s not enough purchasing going on right now to support the current sky-high prices,” TicketData founder Keith Pagello said.
In a statement, FIFA said it has already sold approximately 5 million tickets.
“Ticket sales for the FIFA World Cup remain strong with a high degree of interest for all matches,” the world soccer body said.
The North American stadiums set to host games have a combined capacity of about 7.5 million, though FIFA will end up reducing that figure somewhat as it reconfigures some stadium areas for group and media hosting.
Still, it suggests many seats are still available. FIFA has indicated that the staggered releases, with multiple public on-sale dates for blocks of tickets, are designed to manage demand. FIFA President Gianni Infantino also recently stated that prices must remain high in order to undercut resellers.
“If you were to sell tickets at the price which is too low, these tickets will be resold at a much higher price,” he said at a conference last week.
It is not uncommon for ticket prices to begin falling in the lead-up to a major sports event or concert that did not experience an immediate sellout. But with just one month before the tournament kicks off, the falling prices suggest a mismatch persists between what many fans are willing to pay and the markup ticket brokers are hoping to capture.
The opening match for U.S. on June 12 in Los Angeles still hasn’t sold out, with the cheapest option still above $1,000.
Pagello agreed that even the new prices remain out of reach for many fans. While interest in the tournament remains high, what Pagello called the “purchasing velocity,” or the speed at which tickets tend to change hands, has been slow — and not enough to support the higher prices.
Other signs of unexpected weakness are also beginning to surface. Last week, the American Hotel & Lodging Association reported hotel bookings for most host cities have tracked below initial forecasts, with particular weakness seen in Kansas City, where as many as 90% of respondents said sales were trailing a typical summer. In Boston, Philadelphia, San Francisco and Seattle, the association said, “many respondents” had reported the World Cup was proving a “non event” for selling out rooms.
Some state and local travel policies have compounded the situation, the association said. New Jersey Transit recently announced that train service to MetLife Stadium would cost $98 a ticket, after initially coming in at $150. A bus ticket will now cost $20, down from $80 — though still higher than the usual $13 fare.
Meanwhile, consumers are suddenly facing higher gas prices and airfares because of the Iran war, alongside stubborn economy-wide inflation that has now outpaced wage growth.
Some international supporters — a group FIFA had been counting on to support its high prices — say they are bowing out of flying to the tournament, saying ticket prices are out of reach for their budgets. FIFA’s staggered approach to releasing tickets and the tiered pricing system it has instituted have created a further deterrent, said Andy Bass, a London resident who serves on the board of a fans trust for a major English Premier League club.
“It seems like there’s just a layer of difficulty with this tournament, and the lack of transparency means a lot of people aren’t even considering” buying a ticket, he said. “Very few people outside of hardcore supporters are considering it.”
TicketData’s Pagello said some sales may now be in a self-perpetuating cycle in which fans get comfortable on the sidelines, believing prices will continue to drop — and as prices do fall, persist in waiting.
“Nobody’s buying because prices are going down,” he said. “So buyers see that and say, ‘I’ll wait some more.’”