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Music

Ticketmaster defends “dynamic pricing” of Bruce Springsteen tickets

Events giant Ticketmaster has responded to the recent outrage over a “dynamic pricing” model for Bruce Springsteen tickets, laying out what percentage of tickets are deemed affordable and the portion reserved for those with more cash to hand.

The controversy began earlier this month after Springsteen announced his upcoming 2023 tour with his E Street Band, marking their first outing for six years. Fans were shocked to see some tickets reach the dizzying heights of $5000, and understandably, both Springsteen and Ticketmaster have come under increasing pressure to address the astronomic pricing. 

The 72-year-old singer recently became a grandfather, so Ticketmaster have shouldered the burden to address simmering concerns over “dynamic pricing”. Reportedly, Ticketmaster have attempted to gauge how many affluent attendees live in each city and how much they would be willing to pay. For example, the ticket price range is much higher in Madison Square Garden than in Greensboro, North Carolina. 

Ticketmaster have come under pressure to react to the growing distress of fans as they anticipate other tours yet to be announced later in the year. While fans wonder if they’ll ever be able to afford concert seats again, the company has taken the unprecedented step of offering a more detailed look at the pricing structure through the lens of the first week of Springsteen’s ticket sales.

The company claims that only about 1.3% of the tickets sold so far have gone for more than $1,000, with a total of 11.2% of tickets earmarked to drop in price to meet demand. Meanwhile, 88.2% of tickets are reportedly sold at fixed prices spanning from $59.50 to $399. Fortunately, 56% of tickets were reportedly sold for under $200, including 11% for between $150-200 and 7% between $100-150. A further 18% of tickets allegedly went for less than $99.

“Prices and formats are consistent with industry standards for top performers,” the company said in a statement. So, while the wealthiest 1% fight for the very best seats, the less well-off fans will scramble for the budget seating positions at a fraction of the price. 

Springsteen and the E Street Band are set to begin the tour in February 2023, with dates booked around the world that will continue through until July.