Ticketmaster has responded to the controversy surrounding Bruce Springsteen concert prices.
Those hoping to see Springsteen perform with the E Street Band in the US in 2023 were shocked when tickets for the first leg of the forthcoming tour went on sale on Wednesday (20 July).
Due to the ticket-selling site’s “dynamic pricing”, mid-floor tickets were listed for for $4-5,000 (£3-4,000).
This “dynamic pricing” programme is comparable to Uber’s “surge” pricing, which sees prices increase with demand for certain “platinum tickets”, which are placed throughout each venue.
The system responds to demand, increasing or decreasing prices in line with what scalpers would resell them for, keeping the money in-house for the seller and artist.
Springsteen’s fans were left stunned by the huge prices, and called upon the musician to step in.
To combat the backlash, Ticketmaster has released some statistics related to Springsteen’s tour sales.
These stats reveal that 88.2 per cent of tickets were sold for an average price of $202 (£167), with just 1.3 per cent of tickets going for more than $1,000 (£830).
According to Ticketmaster’s findings, one per cent of all tickets sold on Wednesday went for less than $99, with more than half of tickets going for less than $200 (£166).
According to the Ticketmaster website, its goal is to “give the most passionate fans fair and safe access to the most in-demand tickets while allowing the artists and everyone involved in staging live events to price tickets closer to their fair value”.
Springsteen’s UK concerts are scheduled for Edinburgh, (30 May), Birmingham, (16 June) and London’s Hyde Park (6 and 8 July).
