Ticketmaster respond after some Bruce Springsteen tickets sold for up to $5,000

nme.com:

Bruce Springsteen’s 2023 world tour dates went on sale, fans were asked to pay up to $5000 (£4152) for some tickets.The model allows Ticketmaster to charge more for tickets when they first go on sale.

The dynamic pricing system responds to demand and so increases or decreases prices in line with what “scalpers” – a person who re-sells a ticket for profit – would sell them for, keeping the money in-house for the seller and artist.The system also sees increase with demand for certain “platinum tickets”, which are placed throughout each venue.Ticketmaster defended the model saying that only 11.2 per cent of the Springsteen tickets sold were platinum, and only 1.3 per cent were $1000 (£830) or more.

They also said the average price for a Springsteen ticket was $262 (£217).As per Variety, it was reported that “Ticketmaster says [the most expensive tickets] represent only 11 per cent of the overall tickets sold.

By the ticketing service’s calculations, that left the other 88.2 per cent of tickets sold at fixed prices that ranged from from $59.50 [£49.42] to $399 [£331] before added service fees.“Ticketmaster further says that the average price of all tickets sold so far is $262 [£217.63], with 56 per cent being sold for under $200 [£166] face value…The service further broke down the percentages on the 56 per cent of tickets it says were sold for under $200 [£166].