Formula 1 Grand Prix venues "should" continue to use dynamic ticket pricing even if it "upsets a lot of fans", according to one promoter. British Grand Prix venue Silverstone sparked controversy when selling tickets for the 2023 race with prices going up according to demand and the number of fans who were online at the time. The action was defended by Silverstone - who are completely sold out for the July 9th race with some tickets being sold for well over four figures. However, Mexico City Grand Prix promoter Alejandro Soberon believes that this pricing system is "not public enemy number one" and needs to be further deployed by circuits despite the prospect of upsetting "a lot of fans."
Dynamic ticket pricing has support
"They should continue to do that but it is going to upset a lot of fans," Soberon told select media, including RacingNews365.com. "It is a lose-lose situation. What do you do to make some fans happy, under-price a ticket? Then you have a lot of happy scalpers or do you go dynamic and you put a real price and stop that arbitrage? "Honestly, public enemy number is the secondary [ticket] market, not dynamic pricing. "Platinum tickets is a secondary market which is unregulated and they are just squeezing money from promoters, from artists and from our authorities because they all pay amusement tax and they [on the secondary market] just live in a shadow environment."
Silverstone was right - Soberon
Soberon believes that Silverstone was correct to use the dynamic system to ensure that genuine fans receive a "rightful price." 'Whatever helps to reduce the secondary market to make the rightful price should be tried, and Silverstone in my opinion did right. "They need to find the right balance and of course it is going to upset people, and of course some will say 'you're really bastards', but what do you do? "You cannot expand the capacity, when we have a concert, I will name the artists which is going in the stadium lights, put 120,000 tickets on sale and the platform was accessed by 2.4 million different users who wanted to buy a ticket. "We didn't change ticket prices, we sold 100,000 tickets at $250. "[Some of] those tickets are today at $10,000 on the secondary market, is that fair [to fans]?" Do you agree with the model of dynamic ticket pricing? Vote the poll below and let us know your feelings in the comments below!
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