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They're a monopoly. We already have a thriving marketplace of seating- it's called the airline industry. You can buy a seat on a plane from dozens if not hundreds of sellers online.
Some markets really are screwed.
Rant: Trying to buy tickets for the Knicks game at MSG. Is it really impossible to have a ticketing platform that prevents scalpers from marking up prices to an insane amount? $10000+ for a ticket that originally costs around 2k should be illegal. Most of these tickets will go unsold I'm sure.
In the uk at least, live nation / Ticketmaster will sign exclusive deals with artists - limiting them to a summer run of (for eg) five live nation festivals and no performances at any non live nation events.
So even if alternative venues / festivals exist, live nation squeezes them out by being able to sign bigger multi venue/event deals.
Earlier quoted context omitted.
Worse, they are all owned by the same company now. It’s all a multi-headed hydra of suck. Live Music has been completely monopolized.
If you like specific acts, sure. Or maybe some cities take independent venues more seriously than others. Growing up, ok I missed out on getting Metallica tickets because I didn't want to support clear channel (or Live Nation, or TM, etc...), but I still was able to see plenty of amazing metal bands in indie venues. Another interesting note: Weird Al is playing three venues within driving distance from me. Only one o…
One component of the total picture also is that many of these stadiums/arenas are being funded by the public / tax payer often by tax breaks etc. and the politicians / lobbies are using their relationship to monopolize that public good. IMO every event at an area should go through a public auction / RFP of who is the ticketer for that event (maybe artist gets right of first refusal to pony up the difference for their…
Fine, we can call it a public good which is why they have nice tax incentives. But why stop there? If its truly a public good then why shouldn't the public simply own it? Why isn't the city operating these venues and using the ticket prices to offset tax burdens?
It might be harder to do this with a sports arena as there's a bunch of issues around the monopolies that are the MLB/NBA/etc. But when it comes to a theater style venue, I'd think most artists would be ecstatic to deal with a city rather than ticketmaster. It truly isn't the case that ticketmaster is providing almost anything of value for their venues. And for very large events they have to coordinate with the city anyways.
But the core of it is that an unregulated ticket market actually supports these prices. Fans keep showing that they're willing to dig deep and outbid each other to attend these events in person. Ticketmaster realizes this, and have set up a business model that extracts accordingly.
I think this is where us Americans get turned around. We tend to believe that it’s fair to charge the full market value for a thing, but we also have a sense that cultural experiences are "meant" to be shared equitably. But until we actually put a value on the latter, we're only ever going to have the former.
First, there's the chicken and egg problem of content (events) and consumers. One big part of the sales process is a venue or promoter understanding how your platform will support their sales and marketing processes. If you already have consumers with an app and push notifications, it's an easy sell.
Another issue is cash flow. Deals often depends on what advance you're willing to pay, and it's not uncommon for very large venues to get signed at a loss just for the content. You need the cash to compete, and the big boys will happily take a hit on the big venues to hold onto them. The actual take per ticket is quite a low margin, and if a venue performs worse than you'd hoped you can easily end up making a lot less than planned.
Then you've got all the usual RFP noise around feature offerings. Plus regulation in different countries (looking at you, Italy).
You need investors to fund your sales process, and your development all at very low margins. You also need all the industry connections to build an enterprise sales pipeline and secure business. All of that is to say it's a difficult industry to get any sort of a foot hold in, let alone grow enough to be a serious contender.
The company I worked at ended up doing several rounds of layoffs followed by a very poor sale with no consideration to staff options. It's limping on as it slowly gets absorbed into the company who bought them who are also in the ticketing and event space.
Why hasn't there been a real competitor to youtube yet? Similar question. Some markets really are screwed.