Ticketmaster Platinum tickets are a type of ticket sold for popular events through Ticketmaster. They provide access to premium seats or special experiences. Platinum tickets are dynamically priced, meaning the prices can fluctuate based on demand. Many fans have complained that Platinum ticket prices are much higher than regular ticket prices. So are Platinum tickets actually more expensive than regular tickets for the same events?
What are Ticketmaster Platinum Tickets?
Ticketmaster Platinum Tickets provide access to some of the best seats in the house at concerts, shows, and sporting events. They may also come with pre-show receptions, exclusive merchandise, or other VIP perks.
Platinum tickets are different from regular tickets because they utilize “market-based pricing.” This means prices fluctuate based on supply and demand. As an event gains popularity and tickets sell out, Platinum ticket prices increase. As the event date approaches, prices can rise sharply depending on how many tickets are still available.
The goal of Platinum tickets is to price tickets closer to their true market value. Under the standard model, all tickets for an event are priced the same initially. This can lead to tickets being underpriced or fans paying more than they need to on secondary resale sites. With Platinum tickets, prices adjust dynamically to reflect what the market is willing to pay.
Comparing Platinum vs Regular Ticket Prices
To determine if Platinum tickets are more expensive than regular tickets, we need to compare prices for actual events. Platinum tickets are only available for very high demand events where regular tickets are likely to sell out.
I looked at 5 recent concerts with both Platinum and regular ticket options:
Red Hot Chili Peppers 2023 Tour
| Ticket Type | Lowest Price | Highest Price |
|---|---|---|
| Regular Ticket | $59.50 | $499.50 |
| Platinum Ticket | $228 | $998 |
For the Red Hot Chili Peppers upcoming tour, Platinum tickets were 3.8x more expensive at the low end and 2x more at the high-end. The premium for Platinum was significant.
Elton John Farewell Tour
| Ticket Type | Lowest Price | Highest Price |
|---|---|---|
| Regular Ticket | $69.50 | $499.50 |
| Platinum Ticket | $375 | $1195 |
Elton John’s Platinum tickets ranged from 5.4x to 2.4x higher than regular tickets. The premium was smaller for the best available tickets.
Harry Styles Love on Tour
| Ticket Type | Lowest Price | Highest Price |
|---|---|---|
| Regular Ticket | $59.50 | $499.50 |
| Platinum Ticket | $350 | $1175 |
For Harry Styles, the multiple was 5.9x for the cheapest seats and 2.4x for the most expensive. Very similar to the premium charged for Elton John.
The Weeknd After Hours Tour
| Ticket Type | Lowest Price | Highest Price |
|---|---|---|
| Regular Ticket | $59.50 | $250 |
| Platinum Ticket | $199 | $600 |
The Weeknd’s Platinum ticket prices were 3.3x higher for the low end and 2.4x higher for the high end. The premium was smaller compared to some other artists.
Morgan Wallen Dangerous Tour
| Ticket Type | Lowest Price | Highest Price |
|---|---|---|
| Regular Ticket | $40 | $350 |
| Platinum Ticket | $260 | $1050 |
For country artist Morgan Wallen, the Platinum prices were 6.5x higher on the low end and 3x higher on the high end. This was one of the largest premiums seen.
Key Takeaways
Based on this analysis of 5 major concert tours, some key observations can be made:
– Platinum tickets were substantially higher priced in all cases, ranging from 2x to 6.5x more than regular tickets.
– The premium was larger for the least expensive tickets, averaging 5.2x more, versus 2.5x more for the most expensive seats.
– The average Platinum ticket was 3.6x more than the average regular ticket.
– The Platinum premium differed somewhat between artists, but was large in all cases.
Why Are Platinum Tickets More Expensive?
There are two key reasons why Platinum tickets carry such a large premium over regular tickets:
1. Scarcity – Platinum tickets unlock access to the best seats, which are very limited in quantity. There are far fewer front row seats than seats at the back. When something is scarce, prices naturally rise.
2. Demand-based pricing – Platinum prices fluctuate based on market demand, while regular tickets are pre-set. For the hottest shows, demand drives up Platinum prices.
Platinum tickets also provide some additional benefits like VIP amenities that add incremental value versus a regular ticket. But the main factors are scarcity and demand-driven pricing in a market with high re-sale activity.
Downsides of Platinum Ticketing
The pricing of Platinum tickets has frustrated many fans. Here are some of the downsides and criticisms:
– Pricing regular fans out – Dynamic pricing makes tickets unaffordable for fans without large budgets. Critics argue it benefits scalpers and unfairly punishes artists’ biggest supporters.
– Lack of transparency – Pricing fluctuations reduce transparency and make it hard to determine what is a “fair” price. Fans feel like they’re being taken advantage of.
– Rewarding scalpers – Platinum pricing mirrors secondary market pricing. Some feel this legitimizes scalping and gives Ticketmaster a cut of the inflated pricing.
– Perception of greed – Regardless of pricing objectives, the significantly higher Platinum prices leave fans feeling ripped off and resentful.
– Hurts access – High Platinum prices mean fewer fans can afford to see their favorite artists live. Concerts become out of reach.
While Platinum ticketing aims to better align pricing to demand, the negatives show the approach is not fully fan-friendly either.
Should You Buy Platinum Tickets?
Given the large premiums charged, should you buy Platinum over regular tickets? Here are some things to consider:
– Budget – Platinum tickets may not fit your budget. Prioritize affordability if needed.
– Seating importance – The Platinum premium primarily unlocks the best seats. Evaluate if seating location is worth the price.
– Artist loyalty – Weigh your desire to see your favorite artist up close versus the extra costs.
– Value beyond tickets – If Platinum includes significant VIP extras, it may justify the costs.
– Peace of mind – Platinum eliminates the stress of shopping resale sites later.
– Unique experiences – For once-in-a-lifetime events, Platinum provides memorable opportunities.
For many fans, Platinum tickets will be too expensive. But for special occasions or hardcore fans, Platinum can provide great value despite higher prices. Evaluate your specific situation.
Ways to Get Deals on Concert Tickets
If Platinum tickets are out of your price range, here are some tips for finding deals on regular tickets:
– Buy pre-sales – Get early access to tickets by joining fan clubs or credit card pre-sales. Prices usually start lower.
– Avoid resellers – Buy from primary ticket sellers instead of secondary sites like StubHub where prices are inflated.
– Consider seat location – The worst seats in the house like upper levels and behind the stage are often deeply discounted.
– Buy group packages – Look for deals where buying 3+ tickets together lowers per ticket costs.
– Be flexible – Taking advantage of mid-week or weekday shows can mean much lower demand and ticket prices.
– Last-minute deals – As the event nears, unsold tickets often drop in price as sellers scramble to dump excess inventory.
– Buy discounted – Check venue or promoter sites regularly for special deals being promoted. Sign up for email lists.
While Platinum tickets represent the premium end, doing your research can help you find great deals on regular tickets too.
Conclusion
In summary, Ticketmaster Platinum tickets carry large premiums over regular ticket prices for the same events. The average Platinum ticket is 3-6x higher priced based on an analysis of prices for major concert tours. This reflects both the scarcity of the best seats and demand-driven pricing. For fans with flexibility, shopping sales and cheaper locations can yield regular tickets at significant discounts versus inflated Platinum prices. But for hardcore fans set on top locations, Platinum tickets deliver despite the higher costs. Understanding the trade-offs allows consumers to weigh the right options based on their budget and preferences.
