Los Angeles – Live Nation’s (NYSE: LYV) Ticketmaster on Tuesday
announced a partnership with MarketShare to develop dynamic pricing tools that
will allow artists, sports teams, promoters and venues to adjust ticket prices
for their events based on demand. The tools will allow for higher prices to be
set for the best seats early in the ticket sales process — in theory, reducing
the market for scalpers — while less desirable seats may be priced more
cheaply to increase sales.
MarketShare will provide predictive analysis tools to Ticketmaster’s
LiveAnalytics unit, which will offer the dynamic pricing tools to Ticketmaster
clients.
The tools will utilize data including historical ticket sales, search,
video activity, and social media data.
Ticketmaster said it has been working
with four pro sports teams to develop the tools, and plans to roll out dynamic
pricing tool for the MLB, NBA, NHL and concert tours this year.
Related Links:
http://tinyurl.com/42xupqr
(PDF: Ticketmaster release)
