Ticketmaster has collaborated with West L.A. analytics company MarketShare to start a new service that will enable performing artists and sports teams to raise and lower the price of tickets as they are being sold.

The ticketing division of Beverly Hills-based Live Nation Entertainment Inc. said the goal is to enable artist and promoters, rather than scalpers, obtain the most value from high-demand seats, and allow promoters to drop prices on seats that are less desirable rather than let them sit empty.

The suite of pricing tools is part of Ticketmaster’s new LiveAnalytics venture, which taps into the company’s global fan data to provide insights into tickets’ demand and value throughout the sales process.

Ticketmaster said it has tested the system with several pro baseball, basketball and hockey teams. It plans to offer dynamic pricing for the MLB, NBA, NHL and music concert tours first, and eventually for arts and theater venues.

“Efficient pricing is one of the most important and untapped opportunities to unlock value for fans, clients, artists and teams,” said Ticketmaser Chief Executive Natan Hubbard in a statement. “Our partnership with MarketShare adds to our unparalleled combination of data and analytical resources that inform our clients on the true value of their tickets, while giving them the flexibility to rapidly respond as that value fluctuates over time.”

Live Nation shares closed down 13 cents, or 1.5 percent, to $9.73 on the New York Stock Exchange.