April 3rd, 2023, Kineree Shah
Ticketmaster’s approach to dynamic pricing has been a hot topic of discussion lately. In this piece, we delve deeper into consumer attitudes to this ticketing model and the public’s willingness to pay extra for a better chance to see their favorite artists live on stage.
This piece focusses on Americans who say they are expecting to attend a live event in the next two years. According to a recent survey by YouGov Surveys: Serviced, about a third of Americans (32%) fit into this category. Additionally, a quarter of respondents expressed interest in attending sporting events (26%), while a similar percentage (25%) were interested in attending plays/musicals. Around a fifth of respondents say they will attend festivals and comedy shows (22% each) within the next two years.
Are Americans willing to shell out more for ticket prices that are driven up by dynamic pricing? Our data reveals that consumers who are expecting to attend live entertainment shows in the next two years are willing to pay more if extra money goes to the artists (57%) or if it cuts out ticket resellers (53%). In contrast, fewer Americans were willing to pay more if the increased price resulted in more money going to the record company (28%).
Among Americans who expect to attend concerts in the next two years, 18-34-year-olds are more likely to be willing to pay extra if more money went to the artists (68%) or if it cut out ticket re-sellers (64%). In contrast, the percentage of 35-54 and 55+ respondents who said they would be willing to pay more under these circumstances was lower. For example, only half of those aged 35-54 (50%) and 55+ (51%) were willing to pay extra if more money went to the artists. Similarly, only 47% of those in both the 35-54 and 55+ age groups said they would pay more if ticket re-sellers were cut out.
Overwhelmingly, three-quarters of Americans say that dynamic pricing makes it difficult for fans to see their favorite artists (75%). This suggests that consumers view dynamic pricing consumers as a barrier to their ability to attend live entertainment events.
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Methodology
YouGov Surveys: Serviced provides quick survey results from nationally representative or targeted audiences in multiple markets. This study was conducted online on March 21-22, 2023, with a nationally representative sample of 1,223 adults in the US (aged 18+ years), using a questionnaire designed by YouGov. Data figures have been weighted by age, gender, education, region, and race to be representative of all adults in the US market (18 years or older) and reflect the latest US census population estimates. Learn more about YouGov Surveys: Serviced.