Can Technology Solve the Issues Plaguing Concert Ticket Sales?
Ticket costs in the United States have reached outrageous heights, prompting fans to seek for more cheap options in Europe. Various policies in European countries seek to curb ticket resale pricing, with some establishing tight limits. Technology, particularly AI, emerges as a critical factor in addressing tickets challenges, ranging from identifying scalping to improving event marketing techniques.
With tickets for Swift's US tour selling for $2,500 on the resale market, up from their original price of $49, many American fans found it more cost-effective to go to Europe for a show. Jacki attended two concerts in Sweden for less than $200 each, demonstrating the gap in ticket prices between areas.
In nations such as Sweden, where resale tickets is uncommon, the markup on secondary market tickets remains minimal. In contrast, Germany has restrictions that limit resale pricing to 25% of face value, while Italy, Portugal, and Ireland prohibit selling tickets for more than their original price. However, in the United Kingdom and the United States, resale prices can balloon, raising concerns among artists such as Billie Eilish and Cyndi Lauper about the exploitative nature of ticket reselling.
To address the issue, the UK Labour Party has proposed measures to cap resale ticket prices. Despite these attempts, difficulties remain, such as ticket touting and the possibility of counterfeit tickets. Asher Weiss, CEO of Tixologi, advocates for technical solutions, notably AI, to address these issues. Tixologi's AI can recognise anomalous purchasing patterns, preventing scalpers from purchasing too many tickets and protecting legitimate fans.
Tixologi uses blockchain technology to assure ticket authenticity and avoid duplication. Their electronic tickets have a unique rotating QR code, which makes counterfeiting difficult. Furthermore, venues can activate a "disable transfers" mechanism, which prevents ticket reselling. Seat Unique, a UK ticketing startup, has partnered with Wembley Stadium to provide hospitality tickets for Taylor Swift's tour, using dynamic pricing to dissuade scalpers and benefit artists and venues directly.
Seat Unique CEO Robin Sherry highlights the importance of artificial intelligence in tracking demand and creating dynamic ticket prices. This technique tries to keep tickets affordable to fans while discouraging scalpers from profiting. AI's function goes beyond ticket sales to revolutionise event marketing by targeting people based on their tastes. As AI continues to alter the ticketing industry, innovations such as AI-powered holograms are making an impact, with an Elvis Presley hologram scheduled to perform live in London in November.
While technology holds promise for fixing ticketing issues, fans like Jacki Thrapp wish for a more egalitarian system. As the industry evolves, advances in artificial intelligence provide possible answers to improve the ticket-buying experience and prevent scalping behaviours.
Ticket prices in the US reaching exorbitant levels prompt fans to seek more affordable options in Europe.
Varied regulations across European countries aim to control ticket resale prices, with some nations imposing strict limits.
Technology, particularly AI, emerges as a key player in addressing ticketing issues, from detecting scalping to enhancing event marketing strategies.
Source: BBC