August 8, 2022

A few weeks in the past, Bruce Springsteen introduced plans to tour North America together with his E Road Band for the primary time since 2016. Fairly thrilling! However some followers had been significantly much less excited after they logged on to the Ticketmaster web site to purchase tickets final week. Tickets for the Springsteen exhibits diverse in value, however among the “platinum” tickets value as a lot as $5,000 after they first went on sale. These astronomical costs are a part of Ticketmaster’s “dynamic pricing” mannequin, and Ticketmaster has now tried to defend this excessive new stage of gouging.

“Dynamic pricing” is supposedly Ticketmaster’s method of compacting out scalpers and websites like StubHub and SeatGeek. The thought is that Ticketmaster can cost a ton for tickets after they first go on sale, and if the tickets are nonetheless out there some time later, the costs would possibly drop. This principally implies that Ticketmaster is scalping its personal tickets. The follow has been pissing off ticket-buyers for a number of years, however $5,000 for a Springsteen present looks like some completely insane new stage of greed.

Now, as Selection stories, Ticketmaster is defending the entire Springsteen boondoggle, claiming that solely 11.2% of the Springsteen tickets offered final week had been platinum and that solely just a little greater than 1% had been $5,000 or extra. The corporate additionally claims that the common Springsteen ticket offered for $262 — which, it’s value noting, continues to be very costly, albeit not used-car costly. Ticketmaster additionally claims that “costs and codecs are in line with trade requirements for high performers.” Selection speculates that Ticketmaster made this assertion as a result of there’s been a lot on-line backlash and since they need individuals to nonetheless attempt to purchase tickets for the tour, a few of which haven’t gone on sale but.

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Springsteen has not commented on this complete controversy but. But it surely’s value mentioning that Springsteen offered his masters and his publishing rights to Sony final 12 months; the deal was value a reported $500 million. So Bruce Springsteen doesn’t want your $5,000.