Cool idea, but I'm going to quibble a bit on the Audience vs. Band Chart. Suppose for simplicity that a band has four songs A, B, C, and D that respectively 40% 20% 20% and 20% of people would prefer to hear at a concert. Now suppose the band can only play one song. Which song should they play? I don't think the answer to that question is a random mix of the songs with 40% song A, I think the answer is 100% song A. I…
The answer may vary by band. My favorite band, Reel Big Fish, recently did a tour with lots of "deep cuts" and few A-side hits. I loved it, and I think lots of long-time fans did too. But was it economically optimal?