In the wake of an ongoing furor over ‘dynamic pricing’ for Bruce Springsteen’s tour, Ticketmaster took the unusual step on Sunday afternoon to release cost and percentage statistics for dates that went on sale last week. . Playing down the number of controversial “platinum” tickets with varying prices that reached as high as $5,000 each on the first day on sale, Ticketmaster says these account for just 11.2% of total tickets sold.
According to the ticketing service’s calculations, that left the remaining 88.2% of tickets sold at fixed prices ranging from $59.50 to $399 before added service fees.
Ticketmaster further reports that the average price of all tickets sold so far is $262, with 56% sold for less than $200 face value.
While the service does not dispute reports that ticket prices under the platinum program could reach $4-5,000, Ticketmaster says that so far only 1.3% of total tickets have cost more than $1,000.
Ticketmaster releases this information after five days of popular outrage over the most expensive ducats, and before a majority of the tour cities go on sale later this week. Sales for the 2023 US tour are staggered over 10 days, and the company has a vested interest in making sure upset fans aren’t deterred into believing that all the hundreds of thousands of tickets that have yet to be sold put up for sale will be sold for the sums that made the headlines.
The service further broke down the percentages on the 56% of tickets it said sold for less than $200. He said 18% were sold for less than $99, 27% went between $100 and $150, and 11% were sold between $150 and $200.
“Pricing and formats are consistent with industry standards for top performers,” the company said in a statement.
Springsteen himself has not issued any statement on the controversy. He and Ticketmaster have been under pressure to provide an explanation for the tickets that were priced in four figures, with the $5,000 figure held up by some critics as proof that the entertainer is not actually a ‘man of the people’ .
Ticketmaster and the singer had previously revealed no fixed cost for the tickets, although fans quickly realized that the first to cross the queue each day could buy between $60 and $400… only for those to be immediately reclaimed, leaving the most exorbitantly priced ducats – with values inflated up to 10 times the original value – like what most potential buyers see when they log on.
Ticketmaster is highly unlikely to drop the “platinum” program that has proven so unpopular this week, designed to devalue secondary ticketing sites like StubHub and put extra money in the hands of the artist and promoter. . It emerged on the third day of sales on Friday that caps were being put on the highest platinum values, as a survey of seating charts in various cities showed these tickets peaked in the 2000s instead of 4 000 to $5000. . But it’s also possible that those places were cheaper in response to perceived less demand after the huge uptick in national interest on the first day.
Although there has been speculation that the highest prices shown were determined by an algorithm, sources claim that dynamic pricing is not actually rooted in an algorithm but set by the promoters’ pricing teams, which which would explain some of the big price differences for platinum tickets in the city. in the city.
The majority of dates arrive on the market from Tuesday to Friday.
On Tuesday, shows will go on sale for Washington, D.C., Baltimore, State College, Penn., Cleveland and Philadelphia, though the latter two are among the few shows on the tour not to go through Ticketmaster. On Wednesday, Detroit goes on sale. On Thursday, tickets will be available for Atlanta, Kansas City, Seattle, Milwaukee, Columbus and Buffalo.
On Friday, the two New York dates – Madison Square Garden and Barclays Center – will go on sale (the latter Brooklyn show is also not managed by Ticketmaster). Also on sale Friday are the tour finale in Newark, NJ and a two-night adventure in Belmont Park, NY.
The best of variety
Subscribe to the Variety newsletter. For the latest news, follow us on Facebook, Twitter and Instagram.
Click here to read the full article.