21–30 of 126 posts
But mah free market ideology says competition will produce the best outcome for everyone, we just need more deregulation to fix things.
The answer is that Ticketmaster gives 50% of their revenue to the venue, which is a pretty good deal for the venue, so they have every incentive to keep that relationship going
Economically, it doesn't seem to make sense for artists and venues to be giving so much money to a partner who is delivering so little value. Even if the venue is getting half of the ticket master fee, the tickets selling with the fee included is proof that the customer is willing to pay that much, why share more than a small fraction of the ticket price with a website?
They acquired the independent ticket sellers, then went on to acquire the physical venues themselves. Now if the artist wants to play at those venues, they deal with Ticketmaster from start to finish.
That means that even if artists wanted to buy a block of tickets to sell to their fans, their allotment would be whatever Ticketmaster themselves deem appropriate.
In short: the anger over what happened yesterday is overblown. If a commodity is sellable, people will sell it. The ONLY option here is to make tickets non-transferable, full ID check to verify the name on ID is the name on the ticket Point 1: Let her sell it on a different website. Yesterday, Ticketmaster said millions, but it was probably more than 10 million people, logged in to try to buy hundreds of thousands of…
The answer is that Ticketmaster gives 50% of their revenue to the venue, which is a pretty good deal for the venue, so they have every incentive to keep that relationship going
They run a not that complicated website. As someone who loves live music, they take way too much in ticket fees for the value and difficulty of the service they provide. Legitimately, it feels like expertsexchange. Economically, it doesn't seem to make sense for artists and venues to be giving so much money to a partner who is delivering so little value. Even if the venue is getting half of the ticket master fee, the…
The sooner techies understand this, the better.
Read this: https://stratechery.com/2018/the-bill-gates-line/
Ticketmaster is a large aggregator.
The reason resellers exist is because people are prepared to pay many multiples of the face value for tickets. If people stopped buying tickets on the secondary market, the resellers would be left with worthless paper they paid thousands of dollars for and the secondary market would disappear.
And below that, artists sell their tickets at wholesale prices to ensure that they are sold, providing some guarantees about how much money will be made for a given performance. They have better things to do than waste their time trying to eke out every last possible penny, along with the risks associated with that. It's best to let someone else put in that work, and that's where resellers enter the picture. The same reason why you find a wholesale/retail divide in pretty much every industry.
Ticketmaster's a very vertical monopoly, if you go with anyone else then a ton of venues simply will not work with you . If you open a venue that works with anyone besides Ticketmaster then you won't be able to book any acts that do work with TM, which is "pretty much fucking everyone". There's a lot more to this, Doctorow and Giblin's recent book "Chokepoint Capitalism" has a couple of chapters that examine this who…