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Sunday, July 31, 2011

The Concert Industry Is Feeling The Heat

The concert industry has always felt recession proof. The theory was that in bad times, people still purchase entertainment to take their minds off their troubles. This may be so, but last year the concert industry found that there's a limit to how much they can spend, regardless of the entertainment.
"2010... was the single largest year-over-year decline in the history of the live event business, straight up, in the 35 year history of Ticketmaster and I think anywhere else," said Ticketmaster CEO Nathan Hubbard in a recent  interview with Topspin CEO Ian Rogers.  "You have to take a step back and say, 'Why? What is the fan telling us that isn't right about the business?'"   
I guess Nathan hasn't purchased a ticket to an event lately. Not only are events of all types overpriced, but the extra "convenience" charges are a serious impediment to people purchasing. I know I personally won't buy any ticket that if I have pay a convenience charge on.
"We've got a fan experience problem, first and foremost. There are things about buying the ticket that suck.  There are things about going to the show that suck. Price is still an issue for fans."
OK, let's start by not charging for printing out your own ticket (this is such a ridiculous charge it defies logic). How about instituting paperless ticketing to keep the scalpers out of the business (none of the lame excuses of why it doesn't work hold water)? How about an all-in-one ticket that includes parking and beverages? How about a discount if you choose one of these?

It's great that Ticketmaster is aware of these problems, but let's see them finally do something about it. Don't hold your breath though, they don't care about you, only their shareholders. This is another example that proves that any company in the entertainment sector that goes public ends up being bad for the public. You can't dictate creativity in any part of the entertainment business from the boardroom.
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1 comment:

Circle Of 5ths Entertainment Group said...

The price of concert production overall has gone down with less need for crew via automation. Artists need to lower their guarantees to something reasonable.

The facility rental should include any parking lot or structure associated.

Concession prices need to come down. There is no need for a 1000% mark up on Hot Dogs. Really.

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