April 9 (Reuters) - Ticket sales for the 2028 Los Angeles Olympics opened globally on Thursday after what organizers said was a record-setting first week of local presales, underscoring strong early demand for a Games that must rely heavily on private revenue.
LA28 said it sold more tickets in the first week than any previous Olympic Games had in their opening week, with every ticket in that initial phase going to residents of the Los Angeles and Oklahoma City areas despite some complaints about high prices, fees and availability.
Organizers said hundreds of thousands of $28 tickets - billed as the lowest-priced Olympic tickets in modern history - were snapped up by local buyers, although some buyers have complained about high costs and fees, and a lack of ticket availability.
"The success of the locals presale speaks for itself," LA28 CEO Reynold Hoover said in a statement. "We're thrilled by the level of interest and enthusiasm in tickets to the Games."
The global sales launch, known as "Drop 1," runs through April 19 for fans who were selected through a draw and assigned time slots. Tickets are available across Olympic events, including the opening and closing ceremonies.
STICKER SHOCK
Organizers acknowledged that some fans experienced sticker shock after a marketing push around the $28 entry-level tickets, only to find many of the cheapest seats had already gone quickly or that some events were priced much higher.
Allison Katz-Mayfield, LA28's senior vice president for games delivery revenue, told Reuters that was not unexpected because the least expensive tickets were always likely to move fastest.
"We really wanted to make sure that the locals had access to the most affordable tickets and we saw that come to life through this presale," she said, adding that more low-cost inventory would be released in future sales phases.
LA28 said more than one million tickets priced at $28 will ultimately be made available to the public. Nearly half of all Olympic tickets are priced under $200, while more than three-quarters, including finals, are under $400. Only about 5% of tickets cost more than $1,000, organizers said.
Katz-Mayfield said demand had exceeded expectations from the registration phase through the first sales window. She added that LA28 still had roughly a third of tickets currently on sale priced below $200 as the global launch began.
FINANCIAL PRESSURE
The organizing committee is under pressure to show it can deliver a fiscally responsible Games without burdening taxpayers, who could be on the hook for cost overruns. LA28 has said its more than $7 billion operation will be funded principally through ticket sales, sponsorship and hospitality.
Katz-Mayfield said strong ticket sales, along with sponsorship and hospitality revenue, were positive signs for the financial health of the Games.
LA28 also warned fans against buying from unofficial resale platforms before its verified resale programme launches in 2027, saying tickets sold elsewhere could be speculative or invalid.
(Reporting by Rory CarrollEditing by Christian Radnedge)
