The controversy has to do with “dynamic pricing,” a method of determining ticket prices by demand to discourage scalping. Per the company’s website, this “enables market-based pricing (adjusting prices according to supply and demand) for live event tickets, similar to how airline tickets and hotel rooms are sold.”
Fans began reacting strongly when “platinum” tickets with variable prices soared as high as $5,000 apiece on the first day of sales, per Variety. But now Ticketmaster says those astronomical ticket prices only represent 11.2% of the total number of tickets sold so far.
“Prices and formats are consistent with industry standards for top performers,” the company said