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Ticketmaster to offer dynamic pricing functionality

By | Published on Tuesday 19 April 2011

Ticketmaster

Live Nation’s Ticketmaster has partnered with an analytics company called MarketShare to offer dynamic pricing to the promoters who use the ticketing giant’s platform to sell their tickets. The new technology Ticketmaster plan to employ will, according to the live firm’s press release “allow sports teams, artists, promoters, and venues to better understand the value of their ticket inventory throughout the entire ticketing process – both prior to, and during the onsale”.

I think it basically means promoters will be able to more easily access real time information regards how well their tickets are selling, and to amend pricing according to demand, so that the ticket price for in-demand events goes up as the number of tickets available becomes small, whereas prices for events where demand turns out to low may come down. Promoters may also want to reflect the going rate for tickets for their events being sold on the secondary ticketing market, though it’s not clear with MarketShare’s system automatically considers such data.

We don’t know how quickly these extra services will be made available, though it is one of a number of efforts by the ticketing giant to offer its clients more market intelligence and user data, in a sector where such information is increasingly valued, so much so some promoters are looking into controlling their own ticket sales so that access to such data is complete.

Elsewhere in ticketing news, American secondary ticketing giant StubHub, a subsidiary of eBay focused on ticket reselling, is apparently looking to expand into the European market. And while StubHub has a sports bias in the US, MusicWeek reckons music and entertainment will be a main priority for the resale service over here.



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