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Internal emails reveal Ticketmaster helped scalpers jack up prices, FTC says

(arstechnica.com)
327 points dthread3 | 1 comments | 19 Sep 25 18:47 UTC | HN request time: 0.426s | source
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pavel_lishin ◴[19 Sep 25 19:19 UTC] No.45305346[source]▶
We bought $700 tickets to see a show we really wanted to see, but ended up being unable to make it.

We tried selling it on Ticketmaster, where you can in theory set your own price, or accept their "best offer". Our best offer was somewhere in the neighborhood of $150, and given that it was the night of the show, we accepted it.

We paid $54 per ticket in "processing fees" when purchasing, and paid $50 in more "processing fees" when selling. I'm sure the eventual buyers of our tickets probably had to pony up something like that as well.

If I had a magic button that made everyone above a certain level working there destitute and homeless, I'd probably break my finger pushing it.

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prmoustache ◴[19 Sep 25 20:27 UTC] No.45306140[source]▶
What kind of show sell $700 tickets? Does that include an escort?
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rolandog ◴[19 Sep 25 20:54 UTC] No.45306445[source]▶
I know! Greedflation is out of control. That used to be the cost of decently prized intercontinental plane tickets 6 years ago (not the cheapest!).
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varenc ◴[19 Sep 25 22:26 UTC] No.45307483[source]▶
Greed is sort of the root of capitalism? Every entity working in their economic best interest. IMHO the problem here is Ticketmaster's monopoly status and the total lack of competition, which otherwise is the only thing applying downward pressure on prices in capitalism.
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1. sellmesoap ◴[19 Sep 25 23:27 UTC] No.45308019[source]▶
People seem to have the money to burn, if people stopped buying tickets that would reorient the market. I think a good transaction in capitalism involves the buyer and the seller coming away satisfied. Right now TM supports this secondary market, because it makes them more money, people still fill stadiums. North America's wealth is filled out by the middle man, it's another feather in the cap of conspicuous consumption.