Dynamic Pricing for Concert Tickets Explained… 🥲 + HYBE's Earnings Breakdown
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- Опубліковано 3 тра 2023
- This week has been a WHIRLWIND of information!
Articles cited:
nypost.com/2022/11/18/bruce-s...
www.billboard.com/pro/k-pop-g...
www.allkpop.com/article/2023/...
hbr.org/2022/09/7-lessons-on-...
variety.com/2023/music/news/h...
www.businessinsider.com/surge...
www.businessinsider.com/bruce...
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#HYBE #BTS #Suga
“Dynamic ticket pricing” explained… 🥲 + HYBE's Earnings Breakdown
All I know is this just confirmed that I'll never get to see a BTS concert whenever they come back😢
Essentially Dynamic Pricing is capitalism on steroids. We made 20 million last year but 20 million this year makes it look like we don't know what we're doing and our investors need profits to get paid so we need to make 50 million this year. The fans mean nothing, the artists mean nothing, the industry means nothing. All that matters are profits and investors. I was actually worried about stuff like this when HYBE became a corporation and it started to show early on with the merch and album sales and it doesn't look like they are going to slow down or stop there.
We live in a time where the amount of people who live in poverty is increasing exponentially and in times like these movies and music help to relieve some of the stress people are under. (See the great depression when movies were invented and for 5 cents you could escape for a few hours and have air conditioning). Imagine if the Mario movie or The Avatar movie went into dynamic pricing - people would stop going to the theater. Imagine if something became popular on Netflix and suddenly their membership fee went up that month because so many people wanted to watch something exclusive to them.
The reality is this is an illegal practice and calling it Dynamic Pricing is just another term for price gouging. I wish there was a way for people to not buy tickets during this time but the reality is people really want to see these artists live and in person. And if you don't want to spend the money to see them live then you may be criticized for not being a 'REAL' fan.
In conclusion the BTS of 2013 would be calling out the HYBE of 2023 and would have made at least 3 diss tracks on the subject by now.
These are really great points. The comparison to Netflix and movies is genius.
@@OT7_DopeOldARMY Thanks I tried and I wouldn't be surprised if they do start doing it to those too.
💯bravo! I can’t love this comment more. 💜
Anyone remember Spine Breaker or heard Haegeum? 😅✌️
Disney+ is already doing this...
I agree with all of this 100%
Dynamic pricing is illegal in Europe which makes me wonder: is that why most Kpop stars do not come to Europe (except for festival)? Is that why Europe didn't get a Suga tour? Food for thought...
nah the only place outside of asia that got a Suga tour was USA. It’s not like they only left out europe.
That is rather tasty food for thought ... hmmm??
Is scaling illegal in Europe
I don't think so. I know BTS has been to Brazil, Germany, the UK, and so for their previous world tour way before the pandemic or so. They were going to go again if not for it being cancelled due to the pandemic. So, I don't think that is the reason. I'm sure other K-pop groups have also been there, although I could be wrong
@@annabeladwoa505 Since Covid ended we rarely have big Kpop acts except Ateez, BlackPink, Jackson Wang. No Stray Kids, Enhypen (except for festival). The boyz are finally coming to Europe but that's new. We were really sad when Suga chose not to come this time and I was wondering if the ticketing factored into Hybe's decisions...
I’ve already decided that I won’t spend money on concerts anymore. I can’t justify the price and as much as I love music I don’t enjoy being taken advantage of. I’ll use my “disposable” income in other ways lol. Like on eggs 🍳 😂
Lmao @ eggs
Me too, issa no for me! I'll watch it when they drop it in cinemas or streaming sites.
i feel sad about hearing that they will be using dynamic ticket pricing, my one goal after getting to know bts was that i would one day get to go to their concert, i had very little hope that would ever happen and be i would be apart of the purple wave, but now, now i feel hopeless that that would ever happen.
Same😢
Hope they change
since ticketmaster already knows how many pre-sale codes they give out, then the demand is already 'set'. I still see them driving up the demand as illegal price gouging, as they already know the demand, as they gave out the codes, and even put people on a waitlist. The demand didn't suddenly increase during the buying, it was there before the buying started.
Exactly that's what makes the whole thing illegal. If it isn't illegal it should be.
Yes in the case of predicting demand for shows! But the dynamic pricing comes in when the tickets go live and we’re all sitting in the 2000+ waiting room. Since they can’t guarantee 100% of the people that got presale codes are also going to get in line and buy tickets (but it’s safe to say the majority will), this algorithm takes place during on-sale and adjusts prices in real time.
I am happy that where I live in Europe this is not legal for tickets it had to be a fixed price
Hotel for PTD LV - $50 Wed $100 Thur $500 Fri $500 Sat
Same room. And no coffee maker in room 😮
That is dynamic pricing
whoa. Yeah my room didn’t have one either. 😂
Still my pre-date announcement flight price check to LV was ~$350.
My flight price check AFTER PTD dates announced: $1200+.
It’s dynamic alright!
Capitalistic hell
@@_filifjonkan4290 the options seem scary.
Not want to be a labor in a camp.
It's called price gouging. "Dynamic pricing" is spin to make it sound less disgusting. Such a shame.
Yep. Shame on Agust D for letting it take place. Other artists have stopped it at their concerts.
Thanks Brooke for breaking this down. I don’t think I’ll be able to see any more concerts based on dynamic pricing. Within seconds the ticket prices jumped and I’m not fast enough to get tickets at base price. This definitely will cause less concert goers. Most young people don’t have jobs to pay or have parents willing to pay for expensive concert tickets.
The thing that pisses me off is Weverse not wanting to do subtitles for their content unless you pay. Didn’t Korean fans provide FREE translations for years which helped them get huge and thus giving the possibility for HYBE to exist. The least they should want to do is provide subtitles to make sure the fans are worldwide. Unless they only want the Korean-speaking fans. Very disappointing.
What? Even the free videos??
@@suji1398yes they charge for subtitles. it's so funny they know that tons of fans volunteer to translate their content for them to make it big. they saw an opportunity from international fans in this. Then, why don't they just take this opportunity? very sad.
I don't like it no matter who's making the decision however I would be more sad if I knew my Artist was ageeing to this. Just increase the sales in general. Its just all convoluted.
Brooke, as always you provide a rational, reasoned look at the issue. I always appreciate your takes.
There are basically 3 ways to fight this, and NONE of them are easy:
1) Convince Congress - as a part of their investigation into the monopoly status of TM/LN - that Dynamic Pricing is predatory and anti-consumer and force either complete abolishment or at least a ceiling on how high a company can surge pricing (and take it beyond just concert tickets to hotels, airlines, Ubers, etc.) - either a percentage or no more than x times the base ticket. Also, TM could stop scalpers if they really wanted to, and Congress could make it illegal to re-sell a ticket at all. Those laws exist in some states and many countries already.
2) Fans simply refuse to buy a ticket at dynamic pricing or boycott concerts altgether. This is very difficult if not impossible, because there will be people who refuse to participate for any number of reasons (pure selfishness, on principal, etc.). It's also hard to know when dynamic pricing kicks in when in the heat of a ticket sale.
3) Fans boycott purchase of anything at all except music. Again, it would take a huge majority of fans opting in to this option for it to have any effect. K-fans started canceling merch orders yesterday, and a lot of I-ARMY followed suit. What the percentage of all fans is, though, is impossible to know.
The fact that all three of these options are extremely difficult to downright impossible to achieve is the issue. What a lot of fans are trying to say is we would prefer higher prices across the board that are transparent. We can then budget for it. The problem with the way dynamic pricing worked with the Agust D sale is that a LOT of fans bought tickets they couldn't afford because they didn't notice that the price had changed between the ticket they clicked on at first and the price in their cart at checkout. So many people were left with tickets they couldn't offload because people weren't interested in tickets that cost that much, and the people who bought them couldn't afford the airfare/hotels that also surged because of the concert (or just couldn't even at nromal hotel/air prices because the ticket price was so extravagantly high). That really adds to the outrage, and deservedly so. Also, Ticketmaster is counting on that "fear of losing out on a chance at a ticket" and the heightened sense of urgency. They even stir up that anxiety with pop-up messages ,etc. That is totally taking advantage of the fan.
💯✌️💜
Thank you for your explanations. I don't have a solution but I know that I, who have gone to multiple concerts in the pass, will just sit it out and wait for the theater or the livestream from now on. I refuse to put $150 tickets in my basket and be faced with$1500 + fees at checkout.
In the case of concerts, I feel like the "surge" is artificially created. By forcing a large number to compete in a short period of time for perceived scarce tickets, you force the people to submit or be left with not tickets. As you said, those who have money buy a lot and try to sell the extra to "cover" their cost.
So the story in the atmosphere is well you’re gonna get screwed by scalpers anyway, so might as well screw dedicated fans over right away AND not warn them about it.
The saddest part of this particular story is no fan wants to cheat their artist/idol out of their living. So please, record label production companies, don’t cheat us out of our savings.
A lot of armys did not buy their ticket already in cart once dynamic pricing nabbed them. A lot of us aren’t going to Agust D even though we planned to.
Thanks so much for explaining It sucks sometimes to be a fan of someone so famous that going to see them in concert costs a lot
But I feel like it's the fan's job to know when To quit cuz
EX: 1 Fans will pay money for memberships
2 K pop groups/artists we pay 1,000 dollars for the photocards that people collect
3 If the fan decides to see that group or artist in concert, you have to be well prepared to spend the money.
Thank you Brooke for information 💜
When it was my turn to pick tickets for Suga’s concert the $1000 seats were all that was left. It just feels wrong and wasteful to spend that much on a single concert. I believe Hybe was one of the last of the big4 to start using dynamic pricing. Since I refuse to buy $1000 concert tickets, my Kpop concert days are probably coming to an end.
For $1000, you could buy the full collections of kpop music instead of seeing one show.
Ticketmaster has its OWN scalping brigade.
I really appreciate the video. You did a great job explaining the issue.
When I buy a ticket, I find the rate I want, and that is price I will pay. They don’t change the price just as I check out, thus making me either quickly rejecting that price or making a mistake and charging it and THEN finding out the price had been jacked up a second before I click confirm. That is bait and switch. Not real time pricing.
And by the way, the use of the word “scheme” is very telling. Even though it might not seem to some as a poor choice, it is most often used to describe a nefarious plan. So I guess it was well-chosen.
Yes, there is already dynamic pricing in other industries. But it is still corrupt and used to be (should be) illegal. I know for a fact that Suga is powerful enough to put a stop to it or at least speak out about it during his concerts. It will not help their popularity when they come back. I love Haegeum for its beat--but mostly for its message!
It's funny, critizing a lot of things but taking part in it.
Criticizes capitalism but is part of it.
Dynamic prices have been agrees upon by all parties including the artist.
Even ticket sellers said this was due to requests from companies and artists themselves to maximize their income.
They even charge for content subtitles now. I think greed is starting to kick in because they know they have a lot of fans and can use this to their advantage. In the end fans have to realize that this is all about business.
So, how can we hope for the artist? If they themselves say they will support the company? So sad.
@@infounik12345 It should be illegal, like it is in Europe. It is a corrupt practice on the part of everyone who takes part in it.
Okay, now I know why I paid $750 per ticket to a Suga concert in Chicago Section 114.
Thanks Brooke, it’s something we did notice with Bruce and my boyfriend is STILL livid about it. I don’t think he will be accompanying me to any BTS concerts because of this. I got put in the waitlist for Suga, then a week before the concert they text me that I can get tickets now and the prices were 3x+ as much as the original pricing. It’s really disgusting and will keep many many fans from being able to see them. A damn shame. Thankfully I did see PTD LA.
It's a practice of ticket master of which Hybe and other companies succumb to it. Having ticket master monopoly and have the sole control of ticket sales makes me question the trading practices US have.
The Hybe rep didn't sound so succumbing, I had the impression she opted in because of the "business value" for Hybe.
So then we have to wait until the day before the concert and hope there are still tickets left at more reasonable prices? Or we have to not sell out the concerts so that the "guaranteed" sell out won't apply anymore? Honestly if you're going to pay for them, then pay for them; but I don't like the price jumping up triple from the time you clicked the tickets to the checkout. The price should freeze at the price you see them until you take too long and they release or you buy them. If I was buying a gallon of milk for $4.99 and from the time I put it in my cart and finished my shopping, got to the checkout stand and that gallon of milk now cost me $50 - I'd have to do without. Sorry kids, no milk and cookies ... no, not today!
Exactly! It just makes no sense that you put the ticket in your cart at one price and then 2 minutes later when you're checking out the price had jumped to 4 or 5 times the original because of "demand". That just gouging
I hear you!
Thanks for the information Brooke, this was a great video💜! I've been wondering after I went through hell to get Agust D tickets whether Hybe was using dynamic pricing or not, and it seems like they were...
About the Taylor Swift concert, she reportedly didn't use dynamic pricing. The reason the fans are saying this is because before the tickets went on sale, it was reported that the range of prices would be 59$-899$, and from what I heard from people who got the pre-sale code (sadly I wasn't one of them :( ), this was the real price range and there was no ticket more expensive than 899$. So it seems like the outrageous prices of thousands of dollars were from resale tickets. I was just wondering where you got your info on her using dynamic pricing, because I heard the opposite from other sources.
Hi there! Thanks for watching!
For the Taylor Swift info, there are quite a few articles talking about her use of dynamic pricing for her concerts over the past year or so but this is from Rolling Stone:
“If you went on Ticketmaster in January and pulled up a third-row seat for Taylor Swift‘s June 2nd show at Chicago’s Soldier Field, it would have cost you $995. But if you looked up the same seat three months later, the price would have been $595. That’s because Swift has adopted “dynamic pricing,” where concert tickets - like airline seats - shift prices constantly in adjusting to market demand. It’s a move intended to squeeze out the secondary-ticket market - but it’s also left many fans confused as they’re asked to pay hundreds of dollars more than face value. “Basically, Ticketmaster is operating as StubHub,” says one concert-business source.
Swift is not alone. This summer, U2, Kenny Chesney, Pink, the Eagles and Shania Twain will also embrace dynamic pricing (which Ticketmaster calls Official Platinum Seats). It’s their latest attempt to battle resellers like StubHub, the eBay-owned site, which had sales of more than $1 billion in 2016.”
Source: www.rollingstone.com/pro/news/taylor-swifts-ticket-strategy-brilliant-business-or-slowing-demand-630218/amp/
@@BrookeMorrison interesting, thank you very much!
If this practice is continued, popular Pop Music concerts will soon become like the Opera - only for the elite few.
Thank you. By the way I can’t find your reaction to Jimin Like Crazy :) thanks
I believe the revenue boost is greatly influenced by the depreceation of Korean Won versus Dollar. It was 1100 and now it's 1300 won= 1 dollar...
I try to offset the high concert ticket prices for artists such as Blackpink and Twice by purchasing tickets to lesser known artists such as Band-maid and Babymetal(both Japanese rock artists).
I just know I probably won’t be able to go to another BTS concert ever again. Because with hotel and plane tickets it was already expensive af
I think I would be less upset if they provided live streaming for every concert for purchase.
Unlike most, Bruce Springsteen is actually worth it.
Even Kid Rock is doing it for his tour. Good luck 🤣🤣🤣
Scalpers are getting the chunk of ticket revenues b4 dynamic pricing, maybe thats the reason hybe is implementing it this time. Hybe have already seen in PTD that no.matter the price of the ticket is it is still being bought. I think the buying armys shld concensusly refrain fr buying resale tickets, so that the money will go to the artist n company not to the scalpers.
Me and my daughter got golden tickets to the BTS show in Paris, they were nearly 200 euros each, I thought that was ridiculous as we also needed to travel to Paris and get a hotel, but it was unforgettable and it will remain the only BTS concert we saw live. For me it would feel stupid to spend hundreds of euros on anything further away from the stage than the golden tickets. Then you just feel the energy, you watch the screens and you see pinpoints moving. If I find out that the BTS members themselved opt into dynamic pricing the whole we love army thing becomes a charade.
Unfortunately, indeed the artist agreed to this. Sad.
There is no respect in dynamic pricing.
If a concert has dynamic ticket pricing, I simply don't go to that show. I also back off on supporting the bands that opt in to dynamic pricing. Most aren't aware that the artists can opt out.
I am not happy about the practice and ultimately I will buy tickets only if I can afford them. This may make concert going only something those who have the means to be able to go. That would be sad and it may dampen the spirit of a fandom toward their favorite artist. With less enthusiasm may come a loss toward the earning potential of other revenue sources that feed the industry outside of their events.
nods
Dynamic pricing is legalized bait and switch. It also prices many more fans out of reach. It looks like Hybe and Swift only want wealthy fans. The rest of us
Oh well 🤷♀️
안녕하세요 ^^~😊😊
HYBE and Ticketmaster don’t have the right to do this to us Army. We love and support the boys but that doesn’t mean we will burn our wallet for HYBE. I will support them (BTS) no matter what. I have a life and I have my family to support too!!
We are not unlimited ATM!! THIS IS So unfair
ALL I HOPE right now is that when BTS do return they will eventually leave HYBE and start their own company to make music for Army. I hope and wishfully! I just hopes it is possible if they could.
Mr. BangPD is not there anymore so it seems like he also mentions or giving some hint about maybe there might not be BTS in the future. I just hope that they have another plan for us Army and not letting us down and we just wishfully thinking hoping for something! #NoDynamicPricing
What if it was Suga himself doing this to Army? Hybe could have still opted out of it. I would be very disappointed.
@@_filifjonkan4290 no he is only for the music and his fan. The new HYBE coordinator are the ones.
@@fahsaixiongno dear, this has been approved by all parties including the artist himself. everything is done to increase revenue. the ticket seller said so. I'm sorry, but we have to accept it. because in the end it is a business. And how can we not believe it? BTS itself said it would support what the company did in an interview. So if you were expecting them to quit the company and create a company, that would be a disappointment. Do not expect.
now All i know is that i can't attend the BTS concert in my life before there is a hope that one day i'll attend the concert but now i don't think so and it's break my heart💔😭
This is so discouraging. I might give up live concerts.
Is it really HYBE or because that what Ticketmaster wanted
And that didn’t have a choice because of monopoly. Just asking
Dynamic ticket Goughging
Companies must stay in business to continue supporting artists
I think Army should email your opinions, then HYBE will listen your feedbacks !~💦💦
Good idea.
real question here. who earns all the extra income for this dynamic pricing? I want to believe that the boys won't do this to us if they are fully aware of how much the prices go up.
I sincerely hope so but they are not stupid and there are plenty of people at Hybe who can explain them how it works and that they opt into it, they don’t HAVE to do this to army.
The greed is going to backfire on Hybe. I bet we do not see BTS sign another contract with them.
? this is a delusional take
@@user-mc3qv4pw1p time will tell.
I'm not blaming BTS for this it's the company he did this to them and they're not respecting BTS is with this so I'm not supporting their company I'll support them that's fine I'm not going to put it with the company doing this cuz right now it sounds like they're disrespecting her man inspecting I mean to pay it pay their bills it sounds like they but it will make me decide on if I want to get their merch in the future so I might I'll be I'll be dealing that but I might not want to see them in concert now after I found that what I found out I'm blaming the company for doing this to them inspecting us to pay when
Are they taking into consideration that BTS put on the Busan concert for free and they lost money on the 3 PTD concerts held in Seoul as they were only allowed 30% capacity of the venue. Jin even said in a live afterwards that they would lose money holding those concerts.
Good point!
So we’re meant to subsidize all of that?
The city of Busan balked at paying a fair share of the cost, as I’m aware from Korean news at that time. I don’t agree that it becomes the next concert’s attendees’ problem.
They made back that money by putting it in cinemas, though. Ticket sales was record-breaking around the world.
Would you rather have scalpers make money or the artist? Yes the ticket might initially be priced at $1000 but if nobody is paying that you might be able to get the ticket for $50 on the day of the concert.
That sounds like an explanation of why you need to behave like a criminal. If I don’t steal from you, somebody else will.
Thanks for explaining. I still won't get tickets because of my financial opportunities plus they sell out tickets in the first seconds, so it's not possible anyway (ARMYs who have already been to a concert several times or have already been 1 time at least don't even give other ARMYs the opportunity to visit their concert for the first time, any)🥲
It all goes back to TM 😂 the question is, who really gets the chunk of that increased revenue 🫢
Excellent question