Both Live Nation and Ticketmaster came under fire this week when both outlets received backlash from music fans regarding their dynamic pricing structure. The news came as Bruce Springsteen tickets went on sale in the UK and across the pond in the US. In the UK, some General Admission tickets were selling for as high as £400, despite face value being closer to the £70 mark. In the US, fans were horrified when tickets to Springsteen’s summer shows were selling for close to $5,000 for a standing ticket, with seated tickets going for up to $1,000. Previously, dynamic pricing also saw huge price increases for artists such as Harry Styles, Drake and Taylor Swift.
Despite this causing a stir, the system has actually been in place since 2011 and was set up to battle touting by ensuring fans have access to the the most in-demand tickets. The Ticketmaster website says “The prices are adjusted according to supply and demand. The goal is to give fans fair and safe access to in demand tickets, while allowing the artists and everyone involved in staging live events to price tickets closer to their true value.” Some have speculated that this approach is preferable to lining the pockets of those purchasing tickets to only resell. However, in the UK it has been illegal for people to sell tickets for live events, matches, and concerts for more than face value Since 31 July 2021.
Though some artists may welcome the dynamic pricing structure, others claim to have had no knowledge of it and are said to disagree with its practices. Back in 2020, Australian rock band, Crowded House released a statement on Twitter indicating that they were not aware of the system and had not approved the program. They approached Live Nation and requested that any ticket holders who had paid over face-value were to be reimbursed.
— Crowded House (@CrowdedHouseHQ) November 17, 2020
There’s no doubt that since the pandemic, fans are thrilled that music has come back with a bang. A Wall Street Journal investigation from 2019, found the average ticket price to attend the Top 100 US tours increased up 55% in the last ten years and with the ongoing effects of inflation, and the pandemic, it is no surprise that music’s comeback will come at a cost.
