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I think you're taking the wrong approach here. The artists are not interested in "price discovery" above all else. They do not, in general, want their concerts
by cool_dude85 4y ago
I think you're taking the wrong approach here.
The artists are not interested in "price discovery" above all else. They do not, in general, want their concerts to be attended only by those who were willing to pay the most money, but rather by their fans. The goal of a band is not to provide a return on investment, or to most efficiently extract money from the value of the band's brand or music rights or whatever, it is to entertain and be artists.
This is the reason that tickets are generally priced well below what each ticket could earn in a blind auction or whatever, not because the bands are bad at "price discovery."
- robocat 4y agoI think plenty of artists are motivated by the money, and they would be happy to charge huge amounts and get huge profits if they could get away with it. It seems to especially occur with older bands, where they go on tour mostly to get money, or they do private shows for wealthy corporates, or they sell rights to get money. There are obvious tells that many younger artists are also very interested in profits. Some artists are wealthy enough to provide free concerts, but they don’t.
- unpopular42 4y agoWtf is "be artists" honestly? This is not a church choir. Top bands are commercial enterprises and are able to attract top talent (singers, musicians, audio and light engs, etc) because they get paid well.
- eh9 4y agoWell, yeah, but the people paying 10X are probably luckier fans. Fans who can’t afford the scalped price have a momentary chance to buy from a pool of less than 10% of tickets because the events industry still gets the bulk of allotments.