Setting the ticket price for a brand new event is one of the trickiest decisions any organiser faces. Price too high and you will struggle to sell. Price too low and you will either lose money or undervalue what you are offering. The good news is that with some straightforward analysis, you can arrive at a price that works for both you and your audience.
Start with your costs
Before you think about what people will pay, you need to know what the event will cost you to run. This is not glamorous work, but it is essential. List every expense you can identify:
- Venue hire -- This is usually the largest single cost. A small function room might cost £150 to £500 for an evening, while a mid-size venue could run from £1,000 to £5,000 depending on location.
- Performers or speakers -- Fees vary wildly. A local DJ might charge £100 to £300, while a headline speaker for a conference could cost £2,000 or more.
- Sound and lighting -- If the venue does not provide this, budget £200 to £800 for a basic PA and lighting rig.
- Insurance -- Public liability insurance for a one-off event typically costs £50 to £150.
- Marketing -- Even if you rely mostly on social media, factor in any paid promotion, printed flyers, or poster costs.
- Staff -- Door staff, bar staff, volunteers. Even if some are unpaid, you may need to cover expenses or provide meals.
- Ticketing fees -- Some platforms charge per ticket or take a percentage. Others, like those with zero-fee models, let you keep more of each sale.
- Contingency -- Add 10 to 15 per cent on top for unexpected costs. Something always comes up.
Calculate your break-even price
Once you have a total cost figure, divide it by the number of tickets you realistically expect to sell. Not your venue capacity, but a realistic sales estimate. For a first event, being conservative is wise. If your venue holds 200 people, assume you will sell 120 to 150 tickets.
For example, if your total costs are £3,000 and you expect to sell 150 tickets, your break-even price is £20. That is the minimum you need to charge just to cover your costs, before any profit.
Research what similar events charge
Look at comparable events in your area. If you are running a comedy night, check what other comedy nights in your town or city charge. If you are organising a networking event, look at what business events in your region ask for. This gives you a realistic range that your target audience is already accustomed to paying.
Check platforms like Eventbrite, Skiddle, and local venue listings to get a clear picture. Pay attention to what is included in the ticket price. A £30 comedy ticket that includes a meal is a different proposition from a £30 ticket for comedy alone.
Consider your audience
Who are you trying to attract? Students have different budgets from corporate professionals. Families have different spending patterns from young professionals going out on a Friday night. Think about disposable income, competing entertainment options, and what your audience considers good value.
If your event targets people who regularly spend £40 to £60 on a night out, a £25 ticket is an easy sell. If you are targeting students who think twice about spending £10 on a weeknight, you need to price accordingly.
Use pricing psychology (but do not overthink it)
There are some well-established pricing principles worth applying:
- Round numbers versus charm pricing -- £19.99 looks cheaper than £20, but for events, round numbers often work better because they feel more straightforward and trustworthy.
- Anchor pricing -- If you offer a VIP tier at £50, your standard ticket at £25 feels more reasonable by comparison. Having a higher-priced option makes the standard option seem like better value.
- Price in context -- Frame the ticket price against what your audience would spend on alternative entertainment. "Less than a round of drinks" or "cheaper than a cinema trip for two" can shift perception.
Factor in the total cost to attendees
Your ticket price is not the only cost your audience will bear. They also need to consider transport, parking, drinks, food, babysitters, and any other spending associated with attending. If your event is in central London where a return train from the suburbs costs £15 to £25, a £40 ticket means the evening costs £55 to £65 before they have bought a single drink. Keep the total evening cost in mind when setting your price.
Test and adjust
For a first event, you will not get the price perfect. That is fine. The goal is to get close enough that you sell a healthy number of tickets and at least break even. After the event, review your sales data. Did tickets sell out quickly? You probably priced too low. Did sales stall at 60 per cent of capacity? You may have priced too high, or your marketing needed more work.
If you plan to run the event again, you can adjust next time. Many successful recurring events start with lower prices to build an audience, then gradually increase as demand grows and the event builds a reputation. For more on structuring this, see our guide on tiered pricing for events.
Do not forget about perceived value
The way you present your event affects what people are willing to pay. Professional event pages with clear descriptions, good imagery, and a detailed lineup justify higher prices. A sparse listing with minimal information makes any price feel like a gamble for the buyer.
Invest time in your event listing. Write a compelling description. Include all the practical details, such as the schedule, what is included, and what attendees can expect. If you are offering something genuinely special, such as a unique venue, an exclusive performer, or a curated experience, make that clear. For tips on this, read our post on writing event descriptions that sell.
Practical pricing checklist
Before you publish your ticket price, run through this checklist:
- Have you calculated your total costs including contingency?
- Have you worked out your break-even price based on realistic sales?
- Have you checked what comparable events in your area charge?
- Is the price appropriate for your target audience?
- Have you considered the total cost of attending (transport, drinks, etc.)?
- Does your event page justify the price with clear information and professional presentation?
- Have you considered offering multiple tiers to capture different budgets?
Getting ticket pricing right is part maths, part market awareness, and part instinct. Start with the numbers, validate against the market, and be prepared to learn from each event. Over time, you will develop a strong sense of what your audience will pay, and what delivers the best balance of revenue and attendance.
For a deeper look at structuring your pricing around early sales, take a look at our article on early bird ticket pricing strategies.
Curious how tickts compares? See our side-by-side comparison of tickts vs Eventbrite: fees, payouts, and features for UK organisers.
