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Posted by Alec06 Wednesday, November 1, 2023

SM raises concert ticket prices shortly after criticizing HYBE for high ticket prices

AKP STAFF


As the COVID-19 virus recedes, K-pop group concert performances are regaining their energy, but fans are expressing discontent with ticket pricing policies.

On October 31st, SM Entertainment introduced the concept of "Soundcheck Pre-Entry Seats" for Taemin's concert and set the ticket price at KRW 198,000($145 USD).

"Soundcheck Pre-Entry" is a system that allows fans to enter before the concert starts to watch the artist's rehearsal.

In South Korea, last year, the group BTS introduced it at their "Permission to Dance On Stage - Seoul" concert, and subsequently, popular groups like BLACKPINK, Seventeen, and ZEROBASEONE followed suit by introducing Soundcheck Pre-Entry.

SM Entertainment had previously criticized the high prices of concerts by HYBE Corporation, adding more attention to the situation. In February of this year, SM CFO Jang Cheol-hyuk uploaded a video on SM's official YouTube channel titled "The Reasons SM Opposes HYBE's Aggressive Acquisition." In the video, Jang criticized HYBE's ticket price increases.

At that time, HYBE faced criticism for setting the ticket price for Tomorrow X Together's concert at KRW 198,000($145 USD) for VIP seats.

Jang pointed out, "SM reasonably sets concert ticket prices to ensure that a wide range of fans can enjoy cultural performances. In contrast, HYBE recently leveraged its position in the K-pop market to nearly double concert ticket prices, which was widely covered in the media."

He also expressed concerns that if SM and HYBE were to merge, the rise in ticket prices would accelerate and put a burden on fans who love K-pop and want to support artists. Many supported his statement.

However, a few months later, SM Entertainment introduced "Soundcheck Pre-Entry" and raised ticket prices to KRW 198,000, aligning them with the criticized ticket prices for HYBE's concerts.

The bigger issue is that all Soundcheck seats are located in the closest "Hall of Fame" to the stage. Fans who wish to enjoy the concert from a prime spot have no choice but to purchase tickets at the Soundcheck price.

The increase in concert ticket prices is not a problem unique to SM Entertainment and HYBE Corporation. Recently, at BLACKPINK's world tour concert held at Seoul's Gocheok Sky Dome, VIP seat prices were KRW 220,000 ($162 USD), and Platinum Pink seats, which included special goods, were priced at KRW 264,000 ($194USD). Compared to the group's first world tour concert in 2018 when all seats were KRW 110,000, the prices have more than doubled in five years.

Many have raised their voices, pointing out that the primary fan base for concert reservations is in their 10s and 20s and that concert ticket prices have become too expensive.

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29 14,137 Share 82% Upvoted
 
wonyoungfied
wonyoungfied-2,826 pts Wednesday, November 1, 2023 0
Wednesday, November 1, 2023

[+] This user has a poor community rating, click here to read this comment.

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armystan7
armystan75,650 pts Wednesday, November 1, 2023 0
Wednesday, November 1, 2023

Ticket price hikes aren’t limited to K-pop, global stars like Taylor Swift had an average ticket price of $1,000. It was crazy and people still shelled out the money! Compared to that, the price hikes of these other groups is nothing. We all know if people stop paying the prices will lower but realistically as long as the artist remains popular I don’t think it will happen.

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