In efforts to compete with powerhouse resellers like StubHub, Ticketmaster announced a new partnership with analytics-company MarketShare to introduce a new dynamic pricing model for ticket sales.
So what the heck’s “dynamic pricing”? Essentially, it means that ticket prices will be determined by demand. Say you’re trying to get Justin Bieber tickets that normally go for $50 (don’t fight it—you know you are). But because it’s The Biebz, and because countless shrieking young girls across the country will be tugging at the shirt-bottoms of their parents, the price per ticket could shoot up to $75 or $100 depending on how quickly they’re going.
Don’t fret: there is a silver lining. Say you’re into an ultra-underground-indie band that no one with any mainstream sensibilities has ever heard of. Ticket prices for acts that don’t sell well will level things out by becoming cheaper, leaving you — music snob — with more money for beer and rare vinyl.
Ticketmaster CEO Nathan Hubbard was excited about the new partnership’s potential, saying in the release:
“By utilizing MarketShare and Ticketmaster’s technology, our clients will be able to retain economic value that is normally siphoned off by the secondary market, and to sell more of their tickets that go unsold today. Meanwhile, more fans will have more opportunities to enjoy live entertainment events because tickets will be more accessible and pricing options will broaden.”
Bad news for ticket scalpers (and parents of Bieber fans), but good news for everyone else.
(via NY Times)
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