Telfar’s recent live pricing announcement is a timely relevant framework that artists can reference when crafting ticketing prices. Let’s examine the parts that can easily be implemented and the challenges an artist may face adopting this fan first solution. Telfar Live is demand based pricing. Based on demand, consumers determine and set the post wholesale price of items. This type of pricing is not new to music.
Ticketmaster has adopted their “dynamic pricing” for more and more shows to many fans dismay. Ticketmaster's pricing differs from Telfar’s because at its core, Telfar’s is rooted in accessibility and affordability. As it’s founder often states “not for you, for everyone”. By prioritizing a data driven approach to determine venues and ticket prices, artists can grow a more engaged audience by lowering the barrier to entry of exercising their fandom.
Many brands toggle between aspirational and attainable to increase their brand affinity. A great example is Ferrari. They sell almost as much merchandise as they do cars. By lowering the entry point to associate with the brand, they build deeper brand affinity with consumers until they can afford to attain the actual product. Ticketmaster, venues, and overall industry politics present barriers to making this process entirely democratic the friction does not mean artists shouldn’t work to make this happen.