I'm amazed auctions have not taken over live show tickets. Scalpers skim off millions of dollars every year that events/middleman startup could capture themselves if only someone designed a proper live show ticket auction.
The artists don't want this. They want fans long-term, and for the fans to not feel excluded because of monetary reasons. They believe that keeping the tickets at a below-market rate achieves this. Whether this strategy has the effect they desire I have no idea.
But will they deal with the extra hassle of an auction to see their favorite artists when their artists are incentivized by millions of dollars in extra profit by using an auction based system?