The summer season is often the time when music artists choose to put on concert tours around the world. It seems that 2024 is no different, artists from all genres have either announced or started their tours for the late spring and summer seasons. With these events, a conversation around ticket prices has become a hot topic. Concert goers have noticed a steady increase in ticket prices in recent years, however it seems that they have risen to alarming prices.
Ticketmaster is the largest and most used ticketing site. Concert goers get most, if not all, their tickets from the company. Music companies partner with Ticketmaster because of its accessibility and popularity. Tickets can be found on other websites, but they are often put for sale by resellers who double or triple the price. Because of companies’ relationship with the ticketing mogul, Ticketmaster introduced their dynamic ticket pricing, also known as Official Platinum tickets.
Dynamic pricing gives artists and their companies the option to adjust ticket prices based on demand. Buyers took issue with this being implemented, stating that the pricing puts profit above the fans of artists. During the 2000s to 2010s, it wasn’t uncommon to buy concert tickets for less than $100, but now most would be lucky to find seats in the nosebleed sections at that price. It has become the standard for concert tickets to range from $200 to $1,000, some tickets even reaching $4,000.
The public has questioned how Ticketmaster has gotten away with their prices for so long. Some have expressed that they feel as if the company is becoming a monopoly because of its lack of competition and control over the ticketing market. Going to concerts is no longer an activity that someone with an average income can afford to do frequently. Many question if the astronomical prices of tickets will soon lead to the end of live music
