Ticketmaster To Introduce “Dynamic Pricing”
In an effort to increase profits for performers and sports teams, as well as combat ticket scalping, Ticketmaster announced that they will start implementing a “Dynamic Pricing” system. The new system might increase initial prices for seats in high demand, and lower prices on less popular seats.
According to Ticketmaster it’s a win-win for everyone, except ticket scalpers.
Event tickets seller Ticketmaster said Monday that it is introducing new technology to let artists and sports teams raise or lower ticket prices to reflect demand during the initial sales period — a move it said will crimp the profits of scalpers and boost revenue for performers and teams.
Read the whole story from AP.
Basically front row seats at a show that is expected to sell out will probably cost a lot more up front, but seats for shows that don’t sell out or for seats that are not as in high demand will be sold for much less.
The company already is testing the system, known as “dynamic pricing,” with several professional baseball, basketball and hockey teams. Ticketmaster plans to roll it out at some North American venues in the middle of the summer concert season this year.
I’m all for saving some cash, so if this works like they say it should I’m all for it. Sounds awful confusing though.