Mylie Cyrus

It's really great to read all of the good ideas already submitted in this discussion; too bad a lot of the ideas I was thinking of have already been submitted!! I'm just not fast enough I guess!

Contrary to what Marcus has said, it is my understanding that the face price on the ticket is determined by the artist. The price is determined by many factors, including the cost of putting the concert on and market demand. The more well-known the act and the larger the city, the higher the number of people competing for tickets, so in turn, the higher the ticket price.

I agree with other discussion posts that discuss the other revenues that can be made by having lower ticket prices. Miley's 'goodwill' approach of having low ticket prices will likely increase the sales of 'Miley' memorabilia and iTune sales. Since her fans feel that they are getting a good deal on the concert tickets, they will be more willing to spend money on higher revenue products such as cd's and t-shirts.

Miley's anti-scalping policy is sufficiently unique to be reported on in the media and referenced in MBA programs. This free advertising provides access to a larger potential consumer base. In fact, I'm certain that Miley has received a number of new hits from Terry EMBA XI students; including me!

The other idea of having low ticket prices may be to increase fan base and get them 'hooked' on Miley. By getting a large loyal fan base, Miley will be able to increase concert ticket prices, and gain significant revenue. She's started out by establishing herself as one of the common teens; understanding that not everyone has a lot of cash flow in this difficult economy for luxury items such as concert tickets. As the economy improves, Miley will have an easy time increasing ticket prices and maintaining her customer base.