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Last week, Bad Bunny presale the Tickets for your next concerts in Spain. And chaos unleashed: virtual lines of hundreds of thousands of people, Falls from the Ticketmaster servers and, to add confusion, announcements of new concerts of the star, which reached a total of twelve over the three initials. Above all this, upward oscillations in ticket prices. Or what is the same: dynamic prices.
What are dynamic prices? It is one Price setting strategy in which the cost of a product or service fluctuates based on market demand, consumer behavior, competition and other factors. They are adjusted in real time or at regular intervals, using algorithms and data analysis. It is a system that was known before in sectors such as transport, particularly The aviationbut that Live Nation, the promoter owner of Ticketmaster, has also adopted for her events.
And there were for Bad Bunny? Live Nation Call your tickets With dynamic price Platinum tickets. The base price for tickets Bad Bunny’s cheaper started from 73.30 euros plus 10 management expenses for the highest areas of the enclosure. The most exclusive, such as VIP packages, reached 543.30 euros more than 72.50 expenses. Many users reported Very significant increases: 300 euros They duplicate the price In minutes. The cheapest seats cost more than € 500 in a matter of minutes, and in resale It was requested up to € 1,000
Chaos everywhere. At 12.45, a quarter of an hour before the pre -sale of the three initially planned concerts began, The Ticketmaster website He fell due to the very high demand. When the official time arrived, accessing the tickets was impossible. The demand was such that Bad Bunny announced, in successive hours, more concerts. In addition to those who were announced the next day are a total of twelve, all distributed between Madrid and Barcelona. It is absolutely unusual and a very unusual practice in events of this type, which lead to such a noticeable previous planning.
Where this begins. In the early last decade, Ticketmaster began experimenting with dynamic prices, system which he launched in 2011. Over the years the practice was settled, and became a norm for the great events with the paradigm shift that postpandymia supposed. On his 2022 tour, Bruce Springsteen put him into practice and popularized dynamic prices, turning them into the new normality. Consequence: some entries of your tour of that year 5,000 dollars came to cost.
End the resale. On paper, the intention of Ticketmaster (later absorbed by Live Nation) is to fight the second -hand black market. However, and how It has been analyzed in depthit is a practice that disproportionately benefits ticket sales and harms fans, as seen with the Lighting Reaction in Networks Because of concerts in Spain. It is not the first time: to the aforementioned protests on the springsteen tour we can add the fury that triggered The Oasis meeting, where in a few hours the original prices of the entries, or cases similar to Bad Bunny in Spain with Artists like Pearl Jam, Adele or AC/DC.
The rebels. There are artists who have declared themselves against dynamic prices, Like The Cure, Neil Young or, very significantly, Taylor Swift. Of course, this attitude has earned everyone Notable clashes With Ticketmaster and Live Nation. The accusations of these and other monopoly practices artists (since, de factoLive Nation and Ticketmaster They control in the US The live events industry, with 60% of concert promotions in the main rooms of the country and about 80% of the main ticket sale) led to A demand of the country’s department of justice against the company for monopoly.
The concert business. This behavior of Live Nation affects alone, it is true, the part of the live events, but in recent years the concerts have become the most profitable nucleus of the music business. As we counted a few days ago, concerts They are increasingly mastodonticwith a profitability out of any doubt. In Spain in 2024, live music entered 25.32% more than the previous year, 725.6 million euros. This upward traction is only possible in terms of great events and concerts in giant enclosures.
There is a but. Although everything has a counterpart: the income of the concerts increased by number 8.7 %, but the average gross income by show fell 6.9 %, According to Pollstarand the average number of tickets sold by show decreased by 14.9 %. That is, it is not that people go to concerts more, it is that in just one year the tickets rose notoriously in price. Something that is only possible with strategies that do not have the public’s approval, such as dynamic prices. A real bubble of increasing prices and diminishing patiences.
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