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It would seem that to some extent this ultimately does lead to Major Band getting paid by Ticketmaster though, albeit through indirect means. Let's say a show i
by smugcentrist 3y ago
It would seem that to some extent this ultimately does lead to Major Band getting paid by Ticketmaster though, albeit through indirect means. Let's say a show is going to generate $1M in profit for LiveNation/Ticketmaster because of the fees and the reselling but would only make $250K without, the promoter (who because of monopoly is also the ticket seller) is going to be much more willing and able to offer Major Band a larger payment to get them to perform in the former instance given that they stand to profit much more from the performance.
- mattmaroon 3y agoYeah, I suppose that’s true, but also Major Band is up against the same near-monopoly because there aren’t many promoters bidding for their shows. When you get to the level where you can sell out 20,000 seats, over 2/3 of the promotion is exclusively LiveNation. I guess that’s technically a near -monopsony. Bands would probably argue they’d make more if promotion was itself a functioning market.