Thursday, April 26, 2012

Wilco And Dynamic Ticket Pricing

wilco dynamic pricing from Music 3.0 blogIn what could be a new trend, Wilco and concert promoter Alex Crothers are trying a new format for pricing and distributing tickets for an upcoming benefit concert at the Massachusetts contemporary museum MASS Moca this summer.

Instead of tickets being sold through the box office and through scalpers and ticket brokers, tickets for the concert are being sold through a combination of "Name Your Own Price" auction and a lottery.

The first 500 tickets are sold to the bidders that make the highest offers, then the last 500 become part of a random lottery. Bidders drawn from a hat will be offered the opportunity to purchase a pair of tickets at whatever price they named on their original bid.

Regarding the social aspects of this ticketing method, it also allows both the band and the museum to capture the email addresses of these highly engaged fans.

As you can see, this cuts out the middle man and all the extra fees attached. I bet all fans would love this method or something similar if given the opportunity to purchase this way in the future .

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1 comment:

Mat (The Laughing Bard) said...

That's a great idea! Sounds like on of those ideas that could really change how this industry works, over time.


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