Fans in fury about Paul McCartney show price gouging
Fans in fury about Paul McCartney show price gouging
Occurred: June 2024
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Paul McCartney fans expressed frustration and anger over ticket prices for his summer 2024 UK tour dates, with many accusing Ticketmaster of price gouging.Β
Standard tickets for the tour had ranged from GBP 30.95 to BGP 182.95, but some fans reported seeing "Official Platinum" tickets priced at GBP 418.60, whilst others had soared as high as GBP 600-655.
Ticketmaster employs dynamic pricing for about 12 percent of tickets, typically for the best seats, in order to capture more revenue for artists and prevent tickets from being resold at inflated prices on secondary markets. But it has been accused many times of price gouging when demand is high.
Many fans expressed shock and anger at the high prices, with some calling the ticket prices "beyond unreasonable" and "completely unfair". Others joked about having to "sell a kidney" to afford tickets. Some fans also complained about technical issues with the ticketing process, with them getting "stuck" in online queues.
Ticketmaster responded by saying that promoters and artist representatives determine specific pricing, with supply and demand being the biggest factor. They also noted that only 1.3 percent of tickets across all shows sold for more than GBP 1,000, and over half sold for less than Β£200.
While dynamic pricing is becoming increasingly common for high-profile artists, the practice continues to be controversial among fans who feel priced out of seeing their favorite performers live.
Dynamic pricing
Dynamic pricing, also referred to as surge pricing, demand pricing, or time-based pricing, and variable pricing is a revenue management pricing strategy in which businesses set flexible prices for products or services based on current market demands.Β
Source: Wikipedia π
Operator:
Developer: Live Nation/Ticketmaster
Country: UK
Sector: Media/entertainment/sports/arts
Purpose: Calculate price
Technology: Machine learning; Pricing algorithm
Issue: Ethics/values; Fairness
Page info
Type: Incident
Published: August 2024