Watch: Business Insider Shares New Video “Why Ticketmaster’s Grip On Live Music Is So Expensive For Everyone”
Screenshot via YouTube
Business Insider has shared a new video on its official YouTube channel that delves into the monopoly on ticket pricing that has escalated costs and fueled a greedy secondary market. Titled “Why Ticketmaster’s Grip On Live Music Is So Expensive For Everyone,” the video pulls in perspectives from folks across the live music industry, working to explain why concertgoing has gotten so pricey, which reinforces the presumption that the system works against fans.
The video is broken into topical segments that parse significant moments into real decisions with fan impact, beginning with The Evolution of the Concert, Fall of Recorded Music, and Ticket Pricing Breakdown. Both Ticketmaster and Live Nation’s independent rises are discussed before the merger and the resulting conglomerate Live Nation Entertainment, founded in 2010.
Taylor Swift’s Eras Tour ticket prices serve as a case study, with fan demand pushing Ticketmaster to crash, and the pop star expressing her own frustration, calling the experience “excruciating for me to watch,” without outright naming the distribution service. Fans sued Live Nation Entertainment over the fiasco on ticket prices and practices used to suppress competition.
The escalation of Swifties concern brought the issue to Capitol Hill, culminating in a Senate hearing and an ongoing lawsuit against Live Nation Entertainment. Dan Wall, Live Nation Entertainment Exec., counters the claim, “Any allegation that our business practices are explaining these ticket prices is just cynical and untrue…” The debate sparks a blame game, with no clear path to reconciliation.
Members of the band Lawrence weighed in, pointing the finger back, flagging high ticket fees, and accusing Live Nation of controlling the industry. Clyde Lawrence went so far as to state his beliefs in front of the Senate Judiciary Committee, claiming Live Nation often assumes the roles of promoter, ticketer and venue operator simultaneously.
The band’s song, “False Alarms,” goes so far as to name the problem with the lyrics: “Fame is overrated, and Live Nation is a monopoly.” Primary examples extend with an investigation of StubHub’s Side of Ticket Prices, before a final repartee on dynamic pricing.
In the video, Relix Editor-in-Chief Dean Budnick also speaks on the topic. Watch below.
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‘ Some details of this article were extracted from the following source jambands.com ’
