Coachella ticket prices have reportedly fallen 40% after Kanye West pulled out of the event.
General Admission tickets for Coachella reportedly started at $450 to $550 when they were available directly. As April drew closer, ticket prices on markets for GA tickets reached upwards of $675 for a three-day pass. But on April 4, Kanye West announced he would not be headlining Coachella 2022.
Following the news, Coachella ticket prices on secondary ticketing markets began to drop across the board.
Digital Music News received a tip from TickPick.com and started investigating prices in the lead-up to Coachella. A one-day GA ticket can be had for $390 on TickPick.com, which represents a 56% decrease in the ticket price from when Kanye was on the bill. Secondary tickets were going for upwards of $685 before April 4.
Secondary ticket broker TickPick reports that the average purchase price for a three-day pass to Coachella went from $685 before the Kanye news to just $465 after — a 32% decrease.
TickPick’s founder and CEO Brett Goldberg said Mr. West “continues to be one of the biggest draws in the business.”
The festival announced that The Weeknd and Swedish House Mafia would replace Mr. West, but the move didn’t come without controversy.
There’s also a rumor that The Weeknd demanded to be paid Kanye’s salary, or he was pulling out too. According to a report from Page Six, The Weeknd refused to take the stage unless he was paid $8.5 million – what Coachella was offering Kanye for his performance.
”Faced with the prospect of a second headline act pulling out of Coachella at the last minute — Anschutz’s company caved and agreed to pay The Weeknd the same money.” A source told PageSix