Entertainment Post

Dynamic Pricing: A Solution to High Concert Ticketing Prices and Scalping

Concert Ticketing

After the controversy surrounding Taylor Swift’s Eras Tour sales malfunction last year, people have been clamoring for a better ticketing system.

The proposed solution is to use blockchain technology to create a fair and transparent ticketing system.

By using a decentralized platform, ticket sales can be recorded and tracked in real time, making it much more difficult for scalpers to buy tickets in bulk and resell them at exorbitant prices.

By eliminating middlemen and lowering the possibility of fraud, blockchain technology would also enable fans to buy tickets directly from artists or venues.

Another possible solution is to implement dynamic pricing. This allows ticket prices to fluctuate based on demand, rather than being locked into a fixed price.

This makes it easier for fans to buy tickets at fair prices and also discourages retailers from buying tickets in bulk.

Using paperless tickets is another option. By doing so, the demand for actual tickets would disappear and the likelihood of fraud would decline.

Instead, fans used their IDs and codes sent to their mobile phones to access concerts. This way the tickets cannot be resold, making it more difficult for scalpers to buy and resell large numbers of tickets.

Yet another solution is to use a lottery system. This will allow fans to participate in a raffle to purchase a limited number of tickets. This saves fans from waiting in online queues for hours and reduces the chances of scalpers buying tickets in bulk.

Reduced Prices

Caity Baser’s decision to reduce the cost of tickets for her upcoming UK tour is a breath of fresh air in a sector where costs have skyrocketed recently. Many music fans are being priced out of the market as a result of the rising prices of concert tickets, which has become a major problem.

Many artists and venues have cited the need to combat the impact of streaming on their incomes as a reason for the rising prices. 

However, it’s important to remember that the cost of living crisis is affecting people all over the country, and it’s great to see an artist like Caity Baser taking a stand and making her concerts more affordable for her fans.

It’s also worth noting that this is not the first time an artist has taken this approach. Some of the biggest names in music have also lowered their ticket prices to make their concerts more accessible to fans. For example, Ed Sheeran’s UK tour tickets in 2019 were priced between £37 and £88, which is significantly lower than many of his contemporaries.

Read also: Mother-Daughter Duo Takes the Stage: Beyoncé and Blue Ivy Wow Fans with ‘Brown Skin Girl’ Performance

No More Queues

YellowHeart and Dice are just two examples of companies looking to revolutionize the way concert tickets are sold. By using more advanced technology, they aim to make the process faster, more efficient and less frustrating for customers.

One of the main issues with traditional ticketing systems is their inability to handle large volumes of traffic, leading to long wait times and often crashing websites. With the rise of digital ticketing and mobile devices, the demand for concert tickets has only increased, making this problem even more pressing.

Another issue is the use of bots and scalpers who are able to purchase large quantities of tickets in a short period of time, leaving little for actual fans to buy. 

Many companies are now implementing measures to combat this, such as using Captcha verification and limiting the number of tickets that can be purchased per person.

Honest Ticketing Price and Availability

The issue of ticket scalping, or the reselling of concert tickets at inflated prices, is also a major problem for fans. The use of bots to quickly purchase large numbers of tickets and resell them at a profit has made it difficult for fans to get their hands on tickets at face value.

To combat this, some countries have implemented stricter laws and regulations on ticket reselling, such as capping resell prices or requiring sellers to disclose their identity.

However, some experts argue that the solution lies in the use of technology. Blockchain, for example, can be used to create a transparent and secure ticketing system that makes it harder for scalpers to operate.

Ultimately, it is important for the music industry to find ways to make the ticket buying process fair and accessible for all fans, whether it’s through fairer ticket allocation or the use of innovative technology. Fans should not have to spend hours in virtual queues or overpay for tickets just to see their favorite artists perform live.

Read also: Madonna Returns to the Stage with “Celebration” Tour: Tickets on Sale Now

No Other Extra Charges

Service fees, handling charges, and delivery fees can add a significant amount to the cost of a concert ticket. These additional charges, which can range from 10% to 27% of the ticket’s original price, can be a surprise to many concert-goers.

One example of this is a fan who purchased six tickets for Taylor Swift’s Eras tour, only to find an additional $475 charge at checkout. This is not uncommon, and many ticket sellers use these fees to make the initial ticket price seem more affordable.

Industry experts believe that these fees are kept separate to insulate artists from criticism, as the public will blame the ticket sellers rather than the performers. 

Bob Lefsetz, an analyst, recently stated, “Fees were created to create another pile of money. Ticketmaster has been paid to take the heat over that for forever, so the public will never hate the act.”

Ticket sellers such as Ticketmaster argue that they want to show customers the full price from the outset, but only if everyone else in the industry agrees to do the same. 

In a financial statement last year, Ticketmaster stated, “We have seen all-in pricing adopted successfully in many countries. This only works if all ticketing marketplaces adopt together, so that consumers truly can accurately compare as they shop for tickets.”

Photo: AZ Big Media

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