Ticketmaster Rolls Out New Ticket Technology
April 20, 2011 at 4:19 AM (PT)
The recording side of the business isn't alone when it comes to down revenues, as THE NEW YORK POST reports, "after a disastrous SUMMER concert season last year, LIVE NATION ENTERTAINMENT's TICKETMASTER is hoping more flexible ticket pricing will lead to sold-out shows."
TICKETMASTER is introducing a new technology that will better control ticket pricing and make it more responsive to consumer demand. This new technology is also expected to hurt scalpers -- putting more money in the pockets of artists and performers.
MARKETSHARE, a company backed by BONO's ELEVATION PARTNERS is the partner that TICKETMASTER chose to upgrade its software.
"A lot of seats have been overpriced, like the upper balcony at an arena," said POLLSTAR Editor-In-Chief GARY BONGIOVANNI. "But what do you do if the public doesn't buy them? You discount them. We've evolved into a discounting system that alienates the public. Dynamic pricing has been coming at us for a few years. [Its] first impact will be on sports and baseball where you have a huge unsold inventory on almost every game."