is ticketmaster evil?

is ticketmaster evil?
in case you didn’t hear, ticketmaster totally botched the sale of tswift concern tickets in november. ticketmaster’s website crashed and some ticket prices shot to $20k! aoc, along with many other dems, called for ticketmaster to be broken up -- politico
  • aoc blamed its merger w/ livenation, and outright called it a monopoly
  • other reps like bill pascrell of nj and david cicilline said how bad it was that swifties couldn’t get their tix and that ticketmaster’s monopoly status was to blame
the new republic said the skepticism towards ticketmaster is bipartisan: people across the aisles agree -- ticketmaster’s a monopoly that needs gvt regulation
  • in 2010, ticketmaster bought livenation, a company that provides artists w/ venues to perform
  • the company’s been involved in multiple scandals in the past. it messed up distribution of tswift tickets, and some bad bunny fans weren’t able to enter his concert bc they were sold fake tickets
  • ticketmaster paid $800k to lobbyists in 2022 -- they’re not losing to congress w/o a fight
marketplace: ticketmaster’s 2010 merge with livenation is problematic bc it means ticketmaster sells tickets, promotes concerts, *and* owns the concert venues. yikes!
  • 40 years ago, ticketmaster’s ceo fred rosen worked w/ venues and promoters to raise service fees amongst each other
  • and in 2010, when ticketmaster merged w/ live concert, ticketmaster dominated the concert market even more
  • competing w/ ticketmaster would be very difficult
reuters reported the scrutiny may cause ticketmaster to break ties with livenation, a company it acquired in 2010
  • the dept of justice approved the merger in 2010 bc it thought the merge would bring ticket prices down
  • but prices have risen since the 2 companies merged
  • lawmakers believe breaking the company up would bring competition back to the ticket sale market
usa today said ticketmaster’s dynamic pricing models are also a headache for music fans: when there is more demand for tickets than supply, ticketmaster prices will jump alarmingly high -- pricing many people out of concert tickets
  • it’s a similar system that’s in place for plane and uber rides -- the more it’s in demand, the more it’ll cost ya
  • and bc more ppl are looking to enjoy a live music experience post-2020, expect demand for concert tickets to stay high
a global news op defended ticket master’s dynamic pricing model, tho: the high prices actually discourage resellers from scooping up all of the remaining tickets -- and ensures money from ticket sales goes into the artist’s pocket!
  • before tickets are sold, the artists’ team decides how much the tickets are going to be sold for
  • but if the prices are too high, and ppl refuse to buy tickets, ticket prices will drop
  • if ticketmaster kept ticket prices at a set rate, scalpers would buy a ton of tickets and resell them for profit -- and the reseller would make that money, not the artists
and la times wrote that ticketmaster *may* seem evil to customers, but it offers a good deal to artists and venues
  • despite the high fees associated w/ ticketmaster, the amount that ticketmaster makes on fees has actually shrunk through the years
  • ticketmaster’s systems can handle traffic that other places just can’t. they’re usually pretty well-equipped to deal w/ bots, too
  • and fixing the problems w/ buying concert tickets isn’t easy. no one really wants to get rid of the resell market and artists can’t possibly perform enough times that all their fans get to see them at reasonable prices
besides, an antitrust expert in said that breaking up ticketmaster won’t necessarily fix all the issues fans face. whenever there’s a difference between how much someone is willing to pay for a ticket versus the face value, you’ll have a market for scalpers
  • they could make it nicer for “verified fans” not to have to see dynamic pricing after hours of waiting
  • but whenever there’s a market demand imbalance, you’re going to get prices to meet that imbalance