Does dynamic pricing work for concerts?

[bionic 37,996]

Dynamic pricing- where the price of the product (here a concert ticket) will rise (and allegedly fall) in line with demand. If a ticket has a face value of $50 but 100,000 people are looking for it, it can rise as much as Ticketmaster etc choose. The formula isn't clear to the public but 'cheap' tickets for shows have increased into the thousands.

Ticketmaster says dynamic pricing stops touts, gives more money to artists, and makes it easier for fans to access tickets. Is that your experience? Do you think dynamic pricing is a good thing?

[Oriane 18,987]

That's bullshit and priviledges, as always, richer people rather than giving a fair chance to everyone.

[Benji 20,113]

I feel like it locks fans out that can’t afford the crazy inflated prices, it’s no better than touts buying all of the tickets and selling them on.

The easiest way to make sure touts aren’t buying tickets is require ID to buy a ticket, send tickets out close to the concert and put names on tickets and require ID.  If a fan wants to sell their ticket then they can sell it through their ticket site.

[Snorlax 5,095]

It should be law that tickets can only be resold for face value or less 

[LateToCult 36,492]

Not when it’s a high demand artist. Adele tickets flew and they were pricing those like crazy because of the dynamic model. Plus fans feel pressured to buy them then and there because they fear if they try to buy a little later when the hype has died down there won’t be any left. 
 

A real solution would be to either cap the amount of tickets a person can buy more conservatively or cut down on the amount of people that get codes. Also make it so that only people with codes can get in the virtual line. The amount of people that clog up the line knowing they don’t have a code because they want to see if they can get away with checking out is an issue.

[TheSine 5,203]

I'm not paying over 200 dollars just to see my favorite artist. That's just me.

[bionic 37,996]

5 minutes ago, TheSine said:

I'm not paying over 200 dollars just to see my favorite artist. That's just me.

Personally I Draw the line at about $350 but they've have to be LEGEND tier. No chance paying $4050 for Olivia Rodrigo

[TheSine 5,203]

Just now, bionic said:

Personally I Draw the line at about $350 but they've have to be LEGEND tier. No chance paying $4050 for Olivia Rodrigo

Exactly. Seeing Michael Jackson? That makes sense. Seeing an underground metal band for 800$? No. 

[KindnessPunk 1,465]

The sad thing is they sell them at insane prices because some people will actually pay for those insane prices. And btw I don’t think this applies to VIP packages. What really is absurd is their “Official Platinum” seats which are not VIP and yet are priced as if they were. They even word it as if it was VIP, like they’re trying to trick people into spending $500+ for a seat that would normally cost around $200

[Noah 25,881]

It makes no sense. Set prices need to be the norm. Additional discounts for long-term fans by connecting with a streaming service would be ideal as well.

[elijahfan 23,568]

This dynamic pricing thing is a legal scam if I ever saw one…. Could you imagine if we applied this to everything that can be purchased, including food and first necessity items? This is not a concept that should be put into the world.

[pink sushi 4,351]

It’s an absolute SCAM  

[monstertoronto 7,565]

Dynamic pricing is absolutely a tool to gouge the most loyal fans who want to make sure they get tickets right away. It punishes the fans who are really motivated and it pushes them to spend more than they may be comfortable spending or many can’t afford to go at all. It should definitely be more regulated.