Today, Explained Ticketmaster (Taylor’s Version)
Nov 21, 2022
Join Jason Kebler, a former ticket scalper turned editor-in-chief at Vice's Motherboard, and Morgan Harper, a fierce advocate against monopolies at the American Economic Liberties Project, as they dive into the chaotic world of Ticketmaster. They share tales of the Taylor Swift ticket frenzy, exposing the adrenaline rush of scalping and its ethical challenges. The conversation broadens to discuss Ticketmaster's monopoly, detailing how it crushes fans with exorbitant fees and the potential reforms sparked by artists and lawmakers.
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Predictable Chaos
- The inability of Swifties to purchase tickets was predictable due to Taylor Swift's immense popularity.
- Presales, even limited ones, overwhelmed Ticketmaster's site, causing crashes and frustration.
Supply and Demand
- Taylor Swift ticket scarcity stems from a basic supply-demand issue.
- Millions of fans compete for limited venue space, even with stadium shows and multiple dates.
Dynamic Pricing
- Ticketmaster's dynamic pricing algorithm predicts highest possible ticket prices to maximize revenue and deter scalpers.
- Although expensive, Taylor Swift's tour didn't appear to use dynamic pricing, using fixed, high prices instead.