Andrew Lloyd Webber Says That Dynamic Pricing is 'Racketeering'
Webber stated that dynamic pricing is 'completely wrong'.
In an interview with The Times, Andrew Lloyd Webber discussed the rising cost of tickets for live entertainment, including in the West End.
Dynamic pricing is when a seller does not set a fixed price for their product, rather, adjusting the price in response to the demand of the product. Recently, tickets for Oasis's reunion tour were priced at £148.50. When the demand for tickets rose, the prices rose to £355.20.
Andrew Lloyd Webber shared his thoughts on the ticket model, stating, "I don’t think theatres should be in the business of trying to push prices up. You need to break even, but I don’t like making theatre inaccessible. I hate it. Dynamic pricing is racketeering, really — it’s completely wrong.”
Read more HERE.
Webber also discussed the current state of theatre, including his opinion on jukebox musicals, the importance of new work, and more.
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