The ticketing platform’s “surge pricing” model, implemented in 2022, raises ticket prices based on demand. Ticketmaster has previously explained on their website that tickets are “market-priced” and “may increase or decrease at any time, depending on demand,” similar to how airline tickets and hotel rooms are priced.
In a recent interview with HITS Daily Double, Jay Marciano, Chairman and CEO of AEG Presents, shared insights he gained from Swift’s Eras tour. “Taylor made several decisions that other artists might not consider,” he noted.
He added, “One significant choice was her refusal to use dynamic pricing for her tickets. She clearly stated, ‘No dynamic pricing.’ She was prepared to make choices that might reduce her earnings because she was focused on her long-term career goals.”
When Ticketmaster reported “historically unprecedented demand” for tickets to the North American leg of Taylor Swift’s 2023 Eras tour back in 2022, the singer issued a statement expressing her concern: “It goes without saying that I’m extremely protective of my fans. […] It’s really hard for me to trust an external organization with these relationships and loyalties, and it’s painful to witness mistakes occur without any recourse. There are many reasons why fans struggled to secure tickets, and I’m working to find ways to improve this situation in the future.”
“I’m not going to make excuses for anyone because we asked them repeatedly if they could manage this level of demand, and they assured us they could. While it’s incredible that 2.4 million people secured tickets, it really frustrates me that many feel like they had to endure multiple bear attacks to get them.”
Earlier this summer, fans of Oasis found themselves racing to secure tickets for the legendary band’s highly anticipated comeback tour. During the chaotic ticket sales for their UK and Ireland shows, some fans were disheartened to discover that ticket prices had been affected by the dynamic pricing policy once they reached the payment pages.
In response to the situation, a new law may be proposed in the UK requiring music and sports events to inform fans of maximum ticket prices at the start of the purchasing process. This comes after Britain’s Culture Secretary Lisa Nandy criticized dynamic pricing and called for a review of the practice.
Oasis issued a statement at the time, saying, “Oasis leaves all ticketing and pricing decisions entirely to their promoters and management, and they were never informed that dynamic pricing would be implemented.”
The band later confirmed that dynamic pricing would not be used for their North American reunion tour dates.
Following the controversy surrounding the UK and Ireland ticket sales, the matter was referred to the Advertising Standards Agency and the European Commission, along with a separate request for an investigation initiated by the UK government. Experts also indicated that failing to inform Oasis fans about the dynamic pricing might violate consumer laws.
In related news, Taylor Swift’s monumental Eras Tour has officially become the first tour to generate $1 billion (£796 million) in revenue. The pop star reached this impressive milestone after sixty performances over eight months of touring.