“Ticketing giants Ticketmaster and Ticketek have defended the practice, saying prices were set by artists and their teams, and that demand-driven pricing mitigates the problem of ticket scalping.”
People were fed up with scalpers overcharging for tickets, so we decided to overcharge in their place. Problem solved, you’re welcome!
And it benefits the scalpers as well, who can point at the inflated retail prices and ask for even more.
This screams “look we’re doing something about the cost of living crisis!” energy without tackling the major influences in the cost of living like housing and grocery prices.
I guess this will also hit Uber’s surge pricing during peak times.
Yeah it’s bullshit this.
For any in demand show or event they just let the system rack it up as high as it will go.
The F1 in Melbourne they had tickets going for more than what the range said they would from this. Was wild.