this post was submitted on 07 Sep 2024
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Source/disclaimer: I work for an LN-partnered independently owned venue, so I'm likely to be very biased.
Live Nation/Ticketmaster is definitely a monopoly AND ticket prices are definitely gouged.
However, from what I've heard with many people in the industry, the current antitrust suit isn't likely to change anything. Partnered/independently owned venues will still use Ticketmaster. Live Nation venues will still use Ticketmaster (unless they're forced not to).
Additionally, most people that are complaining about prices don't know that Live Nation typically has little say in the set ticket prices. The artist and/or their tour management sets them. And if people buy them, the prices stay the same (or go up, with the recent dynamic pricing fiasco). If not, the price is discounted.
Tickets aren't even LN's primary source of revenue. It's food and beverage sales, which are also gouged. (Profit margins of 80-90% per item)
LN will continue to blame scalpers (or brokers, the politically correct industry term), which is partially the truth. While this is something I'm not fully aware of, LN has done some things to bring the prices down brought on by brokers. One of them is platinum seating. The most expensive tickets that get resold on ticketmaster are typically purchased by LN and then resold at the "normal" price. Yes, LN is losing money doing this, but it's something they can use to cover their ass in the DOJ suit.
Another thing that several people have already mentioned is the cost of production is MUCH higher than it used to be, especially for stadium shows.
I don't even go to shows myself anymore because of how ridiculous the prices are. We can only hope the DOJ suit does something.
This is an interesting perspective, thank you. I definitely learned where Live Nation was getting most of their profits from when the water fountains were hidden on the other side from the food and drink vendors, and wanted $8 for a bottle of water (or $16 for a PBR!)
I do think that part of the Ticketmaster hate is them being the bad guy for the venues or artists with the prices etc, but they can definitely be doing more. My main issue is that venues can either exclusively use Ticketmaster or not at all, and all the hidden fees. Granted, if the artist chooses "all-lin" pricing it includes the fees, but it feels manipulative that I have to mentally add 30% to the price of tickets when I'm looking.
I don't think LN are losing money doing this. They are artificially rasing prices for the real people buying platinum tickets without any additional costs.
If this is true, they're effectively creating demand by removing a large set of seats from the initial offering pool. This means they can say "tickets are selling fast", without lying if you include that they're just referring to the set on sale right now, not the total number of tickets.
This does smell like false advertising though, but I wouldn't put it past the cracked US legal system for this to be totally legal.