The My Chemical Romance Situation is Outrageous

Summary

Dan Frampton takes a critical look at Ticketmaster’s dynamic pricing model, which has caused outrage among fans of My Chemical Romance and other big bands. He explains how ticket prices can skyrocket from $80 to over $800, and resellers push prices even higher, often to tens of thousands of dollars. While the practice is legal, Dan argues that it’s exploitative and serves corporate greed, making concerts increasingly unaffordable for many fans. He encourages viewers to support local music scenes instead, where tickets are more reasonably priced and the talent is just as impressive.

Takeaways

• 😀 Ticketmaster's dynamic pricing system causes concert ticket prices to rise sharply based on demand.
• 😱 My Chemical Romance's reunion tour saw ticket prices soar to absurd levels, with some tickets costing over $800 for general admission.
• 😤 Fans are upset by the inflated prices, particularly younger audiences who may not have the financial means to attend.
• 💸 Resellers on Ticketmaster have jacked up ticket prices even further, with some tickets being sold for thousands of dollars.
• 📉 Dynamic pricing is criticized as predatory, with some comparing it to the unethical practices in sneaker releases by companies like Nike.
• ⚖️ Dynamic pricing is legal, as long as it follows pricing laws, but many fans find it to be exploitative and unfair.
• 💔 Artists and their management teams are not blameless; they can choose to adopt dynamic pricing and often do, contributing to higher costs.
• 🎶 The video encourages viewers to support local music scenes, where talented bands often perform at more affordable prices.
• 🔁 Ticketmaster’s practice of raising prices based on demand has created a vicious cycle where fans are forced to pay higher prices due to scarcity.
• 🎤 Despite the backlash, some fans defend dynamic pricing, citing it as a necessary tool for managing demand, though the majority of fans remain frustrated.

Q & A

What is dynamic pricing, and how does it affect ticket prices?

Dynamic pricing is a strategy where ticket prices increase based on demand. When more people are interested in a particular event, such as a concert, the price of tickets rises accordingly. This pricing model is used by platforms like Ticketmaster, where the initial price can balloon after tickets go on sale.

Why is dynamic pricing considered controversial?

Dynamic pricing is controversial because it can lead to excessive ticket prices, particularly for popular events. This practice is seen as unfair, especially for fans who cannot afford inflated prices, and it often benefits resellers rather than the artists or the fans themselves.

How does dynamic pricing work in relation to My Chemical Romance's tour?

For My Chemical Romance's comeback tour, ticket prices were initially set but quickly surged due to dynamic pricing. The prices for tickets ranged from $80 to $855, with some tickets later being resold at even higher prices, showing how demand directly influences the ticket cost.

What role does Ticketmaster play in the ticket pricing process?

Ticketmaster facilitates the sale and resale of concert tickets, and it is responsible for implementing dynamic pricing. The company collaborates with artists and promoters, who can choose whether to allow dynamic pricing, which then adjusts based on demand for the tickets.

What are the ethical concerns regarding dynamic pricing?

The ethical concerns include price gouging, where tickets are sold at unaffordable rates due to high demand. Fans, particularly younger people with limited financial resources, are often priced out of attending events, making the practice appear exploitative and unfair.

Why do fans feel frustrated with ticket prices for popular bands like My Chemical Romance?

Fans are frustrated because ticket prices are often set too high due to dynamic pricing, and the scarcity of tickets further drives up demand. Additionally, when resellers inflate prices, it makes it even harder for genuine fans to afford tickets, especially for younger or less financially stable individuals.

How does Ticketmaster’s resale feature contribute to ticket price inflation?

Ticketmaster’s resale feature allows individuals to sell their tickets at inflated prices. When tickets are resold through the platform, prices can reach extreme amounts (e.g., $10,000), exacerbating the problem of price inflation for fans looking to purchase tickets.

What does the term 'surge pricing' refer to in the context of dynamic pricing?

Surge pricing refers to the practice of increasing prices during periods of high demand. It is commonly seen in industries like airlines, hotels, and even rideshare services like Uber. In the case of concert tickets, surge pricing is applied as more people show interest in attending a particular event.

Can artists influence the use of dynamic pricing for their concerts?

Yes, artists can influence the use of dynamic pricing. They, along with their management and promoters, can decide whether to allow dynamic pricing for their concerts. However, this decision may sometimes be influenced by the record label or other stakeholders involved in the tour planning.

Is dynamic pricing legal, and what makes it acceptable despite public criticism?

Yes, dynamic pricing is legal, as long as it follows regulations related to pricing transparency, consumer protection, and fair competition. While it may seem unfair to customers, it is deemed acceptable within the boundaries of business practices in many industries.