Ticketmaster's Multi-tiered Experiment March 01, 2010
- Touring
By Glenn Peoples, L.A.
Ticketmaster, the ticketing arm of Live Nation Entertainment, is experimenting with a form of multi-tiered pricing for the Eagles’ concert at Sacramento’s Arco Arena. At Ticketmaster.com, buyers use a new interactive seat map to choose a seat based on a chosen range of prices and the company has said there are about ten different price points for this concert.
The new approach is aimed at moving that 40% of Live Nation's inventory that goes unsold for each show. By pricing some seats at a lower price, charging more for the most desirable seats and having the flexibility to change prices based on market demand, the company hopes to capitalize on the ancillary revenues additional concertgoers would generate.
During Thursday’s Live Nation Entertainment earnings call, the company said the pricing system has been very well received. The lowest priced tickets cost $32 and are sold out. More expensive tickets remain. On Friday morning, the cheapest available tickets at Ticketmaster.com cost $160. Even more expensive tickets can be obtained through Ticketmaster’s VIP ticketing program, I Love All Access.
Live Nation also said the Eagles and Ticketmaster will also use dynamic pricing for an upcoming concert in Ontario, CA.
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