Ticketmaster and Concert Venue Ticketing Practices

Ticketmaster and Concert Venue Ticketing Practices
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Ticketmaster and Concert Venue Ticketing Practices
Ticketmaster remains the largest ticket seller despite the growing number of secondary websites. The total ticket cost might comprise the face value price, order processing and service fees, facility charge, delivery fees, and taxes. Ticketmaster should protect its consumers from exorbitant prices offered by secondary websites.
Ticketmaster has been alleged to make ticket prices more expensive such that many customers are unable to purchase them. Although Ticketmaster is a business like any other that focuses on how to maximize its profits, it has left its clients unprotected from secondary ticket sellers. For instance, many fans of Harry Styles, a pop star, who held “Love on Tour” in the United States of America (USA), did not attend his concert since tickets were challenging to get (Mendez II, 2022). People’s frustrations were not caused by ticket inaccessibility, despite them being ready to pay high prices, but Ticketmaster was to be blamed. This experience and others that have happened in the USA currently have made many individuals avoid concerts since they say that tickets are difficult to get. Regardless of the exorbitant prices of tickets provided by Ticketmaster, fans scramble to get them. For example, a ticket with a face value of $600 can be sold with a seat that goes for over $3,000 (Mendez II, 2022). As such, Ticketmaster contributes to the inaccessibility and unaffordability of tickets.
Although dynamic pricing is a significant business model used by Ticketmaster, it leaves customers in the hands of secondary websites, such as StubHub, which do not care how much people have to pay for tickets (Cava, 2022). Secondary market platforms purchase numerous tickets from Ticketmaster when they are placed at the face value prices. They hoard those tickets until the demand for concerts is high, particularly when the event date is almost due. In that light, they are likely to sell tickets triple or more than the price they have bought them. For instance, a ticket priced at the face value of $59.50 can be sold for over $1,000 (Cava, 2022). The primary thing that controls the prices is the demand and supply. When many indi...