A spate of high-profile stadium tours by stars like Céline Dion, Taylor Swift and Oasis have put a spotlight on the practice of dynamic ticket pricing, with many fans saying they're unable to secure or afford tickets. We take a closer look in this edition of People & Profit.
Andrew Mall, associate professor of music at Northeastern University, says the trend of dynamic ticket pricing is likely to continue. "There are lots and lots of fans who are indeed willing to pay those higher prices. So as long as there are fans who are willing to pay those higher prices, the ticketing giants that run the industry (...) will continue offering those services to artists. Are some fans being priced out of concerts? Yes, absolutely. So fans who aren't able or willing to spend hundreds or even thousands of dollars or euros on going to concerts will have fewer opportunities to see the biggest artists perform."
He often advises music lovers to consider acts at small and medium-sized venues. "The smallest venues are facing increased pressure due to lots of forces. But medium-sized venues are actually seeing really great business. So venues that range from 500 to 3,500 patrons, concerts at those venues are often selling very well. They usually do not employ dynamic pricing (...) I do think there is an opening."
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Mall says live music remains a worthwhile investment for many people. "One thing I think that really does resonate is people are tired of feeling like their social media feeds and music feeds on the streaming services that they use, people are tired of feeling like they're being fed stuff. When you go to a concert, it's real. There are humans up on the stage, making the music, singing, dancing, performing for you, and you're surrounded by hundreds, thousands, tens of thousands of other people all enjoying the same experience. That's not something we get very often in other realms of our lives."
He believes artificial intelligence can be a powerful creative tool, but that it comes with risks. "What is controversial is using AI to create entire songs. Using AI to deepfake or mimic established artists. Using AI to establish entirely new artists (...) The more AI-produced music there is, the less opportunities there are for performers, songwriters and musicians to make a living."