Ticketmaster has been rocked by allegations that it has an overly cozy relationship with scalpers and has allowed ticket prices to skyrocket out of control. In many cases, these charges have put the ticketing giant on a collusion course with big name stars like Bruce Springsteen.
Now the company is making moves to try to fix its battered image with the music industry and fans by making its sales process more transparent and allowing acts to have more control of pricing.
To that end, the Live Nation Entertainment company announced Monday that it will a partner with MarketShare to develop a system that allows clients to set and adjust prices for their live events.
Escalating costs for concerts for the likes of Springsteen and LCD Soundsystem have drawn unwelcome attention to the ticketing company, enraged concertgoers and frayed relationships with the artist themselves.
Ticketmaster said the new pricing engine will allow sports teams, artists, promoters, and venues to better understand the value of their ticket inventory. The company will begin rolling out its products this year.