Following the ongoing furore over the “dynamic pricing” of the Bruce Springsteen tour, Ticketmaster took the unusual step Sunday afternoon of releasing some cost and percentage statistics for dates that went on sale last week. Downplaying the controversial “platinum” variable price tickets that hit $5,000 apiece on their first day of sale, Ticketmaster says they account for only 11.2% of total tickets sold.
The ticketing service calculated that the remaining 88.2% of tickets were sold at fixed prices, which ranged from $59.50 to $399, excluding service charges.
Ticketmaster also reports that the average price of all tickets sold so far is $262, with 56% of tickets being sold at face value less than $200.
While the service doesn’t dispute reports that platinum tickets cost $4,000-$5,000, Ticketmaster claims that only 1.3% of total tickets have so far cost more than $1,000.
Ticketmaster is publishing this information after five days of public outrage over the most expensive ducats and before sales begin in most cities of the tour later this week. Sales on the 2023 US tour have been pushed back by 10 days, and the company is very keen to ensure that upset fans are not dissuaded into believing that all the hundreds of thousands of tickets not yet on sale will be sold out for the concert. sums that made headlines.
The service also broke interest on 56% of tickets it said sold for less than $200. It stated that 18% sold for less than $99, 27% for $100 to $150, and 11% for $150 to $200.
“Prices and formats are in line with industry standards for top performers,” the company said in a statement.
Springsteen himself has not made any statements about this. Both he and Ticketmaster were pressured to explain why the tickets were priced at four figures, with the $5,000 figure being cited by some detractors as proof that the artist was not really a “man of the people”.
Ticketmaster and the singer have not previously reported any fixed ticket prices, though fans quickly realized that the first ones to line up each day could buy in the $60 to $400 range… only to be sold out on the spot, leaving more exorbitantly expensive ducats – overpriced by 10 times their original value – like what most potential buyers see when they log in.
It’s unlikely that Ticketmaster will drop the platinum program that proved so unpopular this week, designed to devalue secondary ticketing sites like StubHub and give extra money to the artist and promoter. By the third day of the sale on Friday, it appeared that the highest platinum prices were capped as a review of the seat tables in different cities showed that these tickets were peaking in the early-to-mid 2000s, not $4,000-$5,000. . But it’s also possible that prices for these seats were lower in response to lower demand after the huge spike in national interest on the first day.
While there has been speculation that the highest distributed prices were determined by an algorithm, sources say that dynamic pricing is not actually based on an algorithm, but is set by the promoter’s pricing teams, which could explain some of the large differences in platinum ticket prices from the city. in town.
Most dates will hit the market Tuesday through Friday.
On sale Tuesday are shows in Washington DC, Baltimore, State College, Pennsylvania, Cleveland and Philadelphia, although the last two shows are among the few shows on the tour that don’t go through Ticketmaster. On Wednesday, Detroit will go on sale. On Thursday, tickets became available in Atlanta, Kansas City, Seattle, Milwaukee, Columbus and Buffalo.
On Friday, two concerts in New York will go on sale – Madison Square Garden and Barclays Center (the latter show in Brooklyn is also not handled by Ticketmaster). Also on sale Friday are tickets for the tour finale in Newark, NJ and two nights in Belmont Park, NJ.
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