FIFA World Cup ticket prices are dropping after demand did not support what many fans described as exorbitant prices.
Average ticket prices for a group stage match have fallen by 24 percent over the last month, according to ticketdata.com.
"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 told NBC News.
According to the website, the average price of a group stage match is $550 as of May 14, down from $727 a month ago.
Despite the price decline, FIFA told NBC News that demand is strong and that more than 5 million tickets have been sold already. "Ticket sales for the FIFA World Cup remain strong with a high degree of interest for all matches," the organization told NBC News.
The Athletic reported that the resale market prices were below FIFA's original list price. The outlet reported that the "get in" price, which represents the lowest available ticket, had dropped for 76 of the tournament's 78 matches in the United States.
Citing Ticketdata, the outlet reported that half of those games had seen a price drop of at least 20 percent.
NBC News noted that the North American stadiums have a combined capacity of about 7.5 million for all matches to be played in the competition, which suggests many seats should still be available. FIFA has attempted to manage demand through staggered releases of tickets.
FIFA President Gianni Infantino told the New York Post that the organization planned to keep prices high. "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.
FIFA increased the price for a ticket for the final to around $13,000 compared to a price point of about $1,600 in 2022, the newspaper reported.
"We have to look at the market. We are in the market in which entertainment is the most developed in the world. So, we have to apply market rates," Infantino added.
