Ticketmaster and Ticketek claim demand-driven prices mitigate the problem of scalping, when tickets are bought – often by AI bots – and resold at inflated prices
Dynamic pricing is increasingly prevalent in entertainment, with Australian fans of Pearl Jam and now Green Day paying variously inflated amounts depending on when they bought their concert tickets.Dynamic pricing is increasingly prevalent in entertainment, with Australian fans of Pearl Jam and now Green Day paying variously inflated amounts depending on when they bought their concert tickets.
In February, Michael Rapino, the president and CEO of Ticketmaster’s owner, Live Nation, told the company’s quarterly earnings meeting the “best sales pitch” for dynamic pricing – which he planned to roll out around the world – was that it ate into scalpers’ earnings. But the practice is more questionable when a large portion of tickets is priced according to demand, he said.
“At a minimum, companies need to be really open and transparent about how they are pricing tickets,” he said. “It really comes down to what consumers are willing to put up with.”
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