I was not keeping close tabs on the topics President Biden was expected to cover in the State of the Union so it was a coincidence that yesterday’s post was about exorbitant add on fees on the same day he was addressing that issue.
It is probably less of a coincidence that another article from TicketNews came across my feed today reporting what I alluded to in the last lines of yesterday’s post. A Bruce Springsteen fanzine decided to call it quits after 43 years due to Springsteen’s decision to engage in dynamic pricing and slow release of inventory practices.
But for Springsteen, who built much of his reputation on the appearance of being a man of the people rather than interested in exploiting his fans for as high a value as he can capture, the reputational damage has been significant. The Backstreets closure is merely the latest, and highest profile, chapter of it.
“There’s no denying that the new ticket price range has in and of itself been a determining factor in our outlook as the 2023 tour approached — certainly in terms of the experience that hardcore fans have been accustomed to for, as Springsteen noted, 49 years,” reads one part of Phillips’ message to readers. “Six months after the onsales, we still faced this three-part predicament: These are concerts that we can hardly afford; that many of our readers cannot afford; and that a good portion of our readership has lost interest in as a result.”
Part of the issue is that some of Springsteen’s public statements seem to dismiss the concerns of his fans. The fact that ticket prices have dropped from $4000 in the initial roll out to $450-$1000+ with $61 seats available for some shows, does seem to indicate demand pricing theoretically works.
However, the article suggests that the damage is done and younger artists need to be cognizant of the current environment.
What will be interesting is whether or not younger artists – many of whom don’t have decades of good will from their fans to squander – will see what dynamic ticket pricing and openly fleecing your biggest fans can do to their future interest in your work and think twice about embracing the Ticketmaster/Live Nation model of “slow ticketing” going forward.