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Former TM engineering manager here... > TM owns this market and frankly, the issue has nothing to do with tech, and everything to do with the way professional
by wdr1 12y ago
Former TM engineering manager here...
> TM owns this market and frankly, the issue has nothing to do with tech, and everything to do with the way professional sports and concert marketing works from a biz perspective.
Props to you for realizing the complexity of the business side. Most folks don't realize how complicated the world of ticketing is.
I do think you underestimate the value of technology. Ticketmaster effectively figured how to solve some really hard problems, similar to how we solve inside Google today.
The difference is TM did it with VAX assembler and for very focused use cases.
- zkhalique 12y agoWhat are some of the main challenges in the world of ticketing, regulatory & business wise? I wonder what would make it so hard to just strike a deal with a venue.
- wallawe 12y agoTM took over back in the late 80's as the underdog because they made the great business decision to give venues a cut of the pie as opposed to charging venues for their services - which is what their competitors did at the time. They quickly took demolished the competition and began setting up long term contracts, usually between 3 and 10 years with each venue. Then, in 2010 they merged with LiveNation who owns a vast majority of some of the nations largest, most popular venues. Major artists' managers and promoters all have close ties to TM/LiveNation as well, because it's where the money is. So when Taylor Swift goes on tour, these folks make sure they hit a TM venue at each stop along the way. That's just the tip of the iceberg, but you get the gist.
- gsnedders 12y agoSo how does TM make money? Where is the cut for venues taken from? All from the booking fee?