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That's precisely the opposite of both my point and observable reality. Why doesn't every apartment rent for $1500 per month? Because people aren't willing to
by LordKano 10y ago
That's precisely the opposite of both my point and observable reality.
Why doesn't every apartment rent for $1500 per month?
Because people aren't willing to pay that for every apartment. Because of this, every real estate market has a ceiling with regards to how much can be charged for rent.
If Lil Bow Wow goes on tour at the same venues as Eminem, will the tickets cost the same? No because people are willing to pay more for Eminem tickets. If someone tries to charge as much money to see Lil Bow Wow as they do for Eminem, a lot of tickets would go unsold. They would lose money and next time, they won't make the same mistake.
That's the market at work.
- criddell 10y agoWe both keep saying the same thing. You're right - that's the market at work and I agree with you on that. The market is doing the only thing it can do which isn't necessarily what the artist wants. It's failing the artist. The article talks about U2. Apparently they are so wealthy now that when they put on a show they want to maximize for something other than money. Most performers will tell you that a great show is half performer and half audience. Shouldn't they try to get tickets to their biggest fans that will help them put on the best show even if those super fans don't have the deepest pockets? When your only tool is a hammer, everything starts to look like a nail. Maybe market mechanisms aren't good enough when dealing with intangible quantities.