(NewsNation) — Ticketmaster on Monday responded to disappointed Bruce Springsteen fans, some of whom took to Twitter with criticism over the pricey tickets.
On Ticketmaster’s first day of sales for Bruce Springsteen’s 2023 tour, tickets to see “The Boss” were selling for as much as $5,000 for mid-range level seats.
Ticketmaster has said those prices represent only 11.2% of the overall tickets sold, Variety reported.
According to Variety, Ticketmaster provided the following statement: “Prices and formats are consistent with industry standards for top performers.”
The high prices were a result of Ticketmaster’s dynamic pricing program, which adjusts the price of the tickets in real time based on demand.
The practice was introduced after a the music industry experienced a tough few years during the COVID-19 pandemic, when shows were canceled and tours were postponed indefinitely.
Dynamic pricing is nothing new for the industry.
Rolling Stone reported that Taylor Swift fans were disappointed by the same strategies. In January, a third-row seat for her June 2 show at Chicago’s Soldier Field was reportedly sold for $995. Pricing for the same seat dropped to $595 three months later.
Springsteen hasn’t released a statement regarding ticket pricing. Ticketmaster additionally did not respond to NewsNation’s request for comment.
