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Thread: Live Nation and Ticketmaster To Merge

  1. #121
    Coachella Junkie Blinken's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    Quote Originally Posted by psycobetabuckdown View Post
    How the hell can the government "reject" a merger? Isn't our market supposed to be free?
    Umm no. Anti-trust laws are in place to prevent Monopolies. Major mergers must be approved by both the SEC and the Justice Department to go forward, this is prove that a monopoly is not being created. We have never had a true Free Market system, they don't exist except in theory. Same goes for a true controled market, neither is possible outside economics books.

  2. #122
    Coachella Junkie SFChrissy's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    I was having a conversation with an old San Francisco native and asked him about a picture of two young gentleman under a marque sign displaying jimmy hendrix...he said "that's me & Bill...he was one of my best friends for many years! I asked him "how do you think bill would feel about live nation and the level they took his work too?" He said..."are you kidding me, if he were alive today none of this bs would be going on, he's probably turning in his grave as we speak!!!"

    Live nation = legacy my arse!!!

  3. #123
    Milkshake suprefan's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    http://pollstar.com/blogs/news/archi...27/651298.aspx

    The proposed merger of Live Nation and Ticketmaster, dubbed “vertical integration on steroids” by Jam Productions’ Jerry Mickelson, came to Washington, D.C., as the U.S. Senate and House judiciary antitrust subcommittees met to take testimony from industry leaders on both sides of the fence.

    Both committees put Live Nation CEO Michael Rapino and Ticketmaster Entertainment chief Irving Azoff on the hot seats, starting with the Feb. 24 Senate panel. Chuck Schumer (D-NY) in particular landed rhetorical blows to both, with IMP’s Seth Hurwitz and Mickelson passing ammunition.


    The House committee met two days later, sans Mickelson and Hurwitz and adding Comcast-Spectacor’s Peter Luukko to the witness list, before a decidedly more friendly group of congressional inquisitors.

    At the Senate hearing, Rapino cited an “irreparably broken music industry” as a reason for proposing the merger, saying the “business model is obsolete as an eight-track tape” and acknowledging the need to create value for shareholders.

    “Our stock has declined by nearly two-thirds. Our real estate holdings have been gutted. Our hard work is not producing the rewards it should. We face the very real possibility that if we don’t find a solution, we could ultimately be bought by a foreign-owned entertainment conglomerate like the majority of the major record labels.”

    Rapino told the panel that more than 40 percent of all concert tickets go unsold, and scalpers are to the concert industry what illegal downloaders are to the recording biz.
    Azoff told the committee his history of loyalty to his artists and their fans, and explained his job will be to continue benefiting them as well as shareholders.

    “I’ve been an agent, a personal manager, a concert promoter, a movie producer, an independent record label owner, a merchandiser, a music publisher, a record company CEO and, at times, a babysitter and a bail bondsman. I’m a founding member of the Recording Artists’ Coalition and staunch supporter of artists’ rights,” Azoff said.

    “In 2005, I returned to my first love – the management of artists – at Front Line Management. While I’m honored to be here, if I wasn’t doing this right now, I’d be in the Rayburn Building with the musicFIRST coalition and all the artists who are seeking congressional support for the performance rights bill.”

    He also raised the specter of the recent Bruce Springsteen ticketing snafu, blaming the problem on a computer “glitch” which seemed to rankle the senators. Schumer was already loaded for bear on that subject, even addressing it in his opening remarks.

    Schumer blasted Ticketmaster for the Springsteen onsale fiasco and called for the company to, at the very least, sell off its TicketsNow division.

    In sharp questioning about TM’s acquisition of TicketsNow, Schumer elicited a somewhat surprising admission from Azoff. Had he been with TM at the time, he would not have made the deal, he said.

    “I don’t think there should be a secondary market at all,” Azoff said. “I think it should be illegal. I’ve spoken with senior members of the company, members of the board, about why they even bought it.”

    By the time Azoff appeared at the House subcommittee’s hearing two days later, he’d expanded on that statement to say he would recommend that his board sell TicketsNow if an appropriate offer was made.

    Hurwitz was the first to bring up what is likely the biggest concern for competing promoters when he said the merger would make it possible for the combined company to have access to his confidential sales and contract data. He took a swipe at Live Nation for following a “model of control” started by Robert Sillerman’s rollup of SFX.

    “When is enough control too much? You can’t blame Live Nation any more than you can blame a shark for eating people,” Hurwitz said. “I’ve never had a problem with Ticketmaster that I couldn’t work out. But if this merger goes through, my biggest competitor will have access to all my ticket counts, onsale dates, contracts and history.”

    Mickelson was even more emphatic, saying that in some cases his new rival would be able to financially profit from fees on Jam’s shows, as well as obtain data while not sharing theirs with him.

    “If this merger is allowed, this entity will have the power to suppress competition and become a rival to not only promoters but venue managers, agents, merchandisers, apparel companies, licensees and sponsorships. It is vertical integration on steroids and … the poster child to show why this country needs antitrust laws.”

    Under questioning by chairman Herb Kohl (D-Wis.), Rapino concurred with his independent promoter rivals that data integrity is a legitimate concern.

    “I would agree that is a concern on their part,” Rapino said. “We would make sure both divisions are separately run.” He stammered a bit when Kohl asked Rapino if he were willing to put up a “firewall” between companies to protect data.

    “In theory, yes,” Rapino responded. “In terms of the data, the concert division should have no information about what Seth or Jam do.”

    It wasn’t clear if Hurwitz or Mickelson bought that, but it was clear they didn’t buy the claim that Live Nation has a market share of only 38 percent, as Rapino testified.

    “That’s not true,” Mickelson said, holding up a sheet of paper and citing Pollstar box office statistics. “If he’s talking 38 percent, he may be including small clubs, but they control outdoor amphitheatres. They own 90 percent of the amphitheatres, and all the House of Blues and control other theatres. We won’t be able to compete.

    “When you look at Ticketmaster, they have control of 90 percent of the Top 100 buildings. With 80-90 percent of the major arenas, can other ticketing businesses enter? I don’t think so. What could happen is Ticketmaster/Live Nation could say, ‘If you want my concerts, you have to use my tickets. If you don’t use my tickets, you can’t have my artist.’ That’s a huge concern.”

    Hurwitz later questioned Rapino’s assertion that Live Nation is in financial straits and in danger of being acquired by foreign interests unless the merger is finalized.

    “It’s interesting to see the rest of the world figure out how ridiculous our business is,” he told Pollstar after the hearing. “You’ve got companies crying poormouth here, while they tout every earnings release as great news. Which is it? I can’t wait to see how they decide to spin next week’s numbers.”

    At the House hearing, no independent promoters, artists or other industry opponents were among the witnesses.

    “I can’t tell you how many calls and e-mails I got from people who hate this and are afraid to talk. And isn’t that perfectly telling? Seriously, maybe they ought to set up an anonymous hotline,” Hurwitz said.

    By the second hearing of the week, Rapino and Azoff seemed to have fine-tuned their testimony from the Senate committee’s grilling. Rapino took aim at rival AEG during his opening statement.

    Rapino said that Live Nation has a market cap of $250 million and $700 million in debt, and a margin of 4 percent. Then, he said, compare that to AEG, a privately held company, “owned by a multi-billionaire,” an obvious reference to AEG principal Philip Anschutz, “the 31st richest man in America.”

    He claimed that the AEG-owned Staples Center in Los Angeles alone is worth more than Live Nation and Ticketmaster combined.

    He continued to paint AEG as at least as powerful as Live Nation, saying it promoted five of the Top 10 concert tours last year while LN promoted just four. “They are the true vertically integrated company.”

    Comcast-Spectacor President / COO Peter Luukko was a supportive witness before the House subcommittee, initially chaired by Rep. Hank Johnson (D-Ga.). The last half of the hearing was chaired by Rep. Brad Sherman (D-Calif.), who took the gavel when Johnson was called away to another meeting.

    “I have come to understand the benefits of having a vertically integrated live entertainment business,” Luukko said in a prepared statement. “I believe that the merger of Ticketmaster and Live Nation is an exciting combination that has the potential to reinvigorate the industry at a time when change of direction is drastically needed.”

    Luukko also works closely with professional sports teams and leagues, which have not been a core business for Live Nation, but with which Ticketmaster has contracts. Some sports entities, including several Major League Baseball teams, have contracts with other ticketing agents including Tickets.com and Veritix.

    Vertical integration of MLB as well as other pro sports leagues was discussed, although it should be noted that baseball famously has a congressional antitrust exemption.

    But Luukko came to the hearing from a position of experience in dealing with vertical integration, including F&B with Comcast-Spectacor-owned Ovations and its own attempt to bring ticketing in-house with the acquisition of Paciolan.

    “I think the merger will bring welcome change,” Luukko continued. “If together Ticketmaster and Live Nation can sell more tickets, and thereby provide more content to venues and consumers, this will be a huge improvement over the status quo. I also believe that this type of strategic combination will encourage other competitors (like myself) to be more creative in their offerings and to compete more effectively overall.”

    Luukko dismissed fears of anti-competitive behavior from a merged Live Nation Entertainment.

    “I certainly don’t have any reason to believe that the combination will in any way stifle competition. There are a lot of ticketing companies (our own included), promoters, venues and artist managers out there eager to do business. Nor do I think that my buildings will be less likely to attract or secure the same level of concert talent that Live Nation and many others have offered us before."

    “At the end of the day, the artist has the ultimate control over where he or she wants to play,” Luukko concluded.


  4. #124
    AquaFresh
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    Default Re: Live Nation and Ticketmaster To Merge


  5. #125
    Member justinaqui's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    Quote Originally Posted by http://stereogum.com/archives/mr-corgan-goes-to-washington_057782.html
    Billy Corgan Endorses Ticketmaster/Live Nation Merger
    thumbnail icon: Billy Corgan Endorses Ticketmaster/Live Nation Merger

    Mr. Corgan was busy in Washington today, first appearing before the House Committee on the Judiciary in a hearing on the Performance Rights Act, then delivering a letter in support of the controversial Ticketmaster/Live Nation merger.
    http://stereogum.com/archives/mr-cor...on_057782.html

    They post the letter too, with this greatness at the bottom:

    P.S. Ticketmaster CEO Irving Azoff is the Smashing Pumpkins' manager.

  6. #126
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    Default Re: Live Nation and Ticketmaster To Merge

    at one point a guy i worked for was in talks to manage billy. said he was the biggest dick. sharon osbourne ended up getting him and everyone knows how that went. wasn't the quote something like "i can no longer manage him due to health reasons...billy corgan is making me sick"...

  7. #127
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    Default Re: Live Nation and Ticketmaster To Merge

    Quote Originally Posted by AquaFresh View Post
    Quote Originally Posted by JustSteve View Post
    at one point a guy i worked for was in talks to manage billy. said he was the biggest dick. sharon osbourne ended up getting him and everyone knows how that went. wasn't the quote something like "i can no longer manage him due to health reasons...billy corgan is making me sick"...
    It's funny, because it's true.
    .

  8. #128
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    Default Re: Live Nation and Ticketmaster To Merge

    wasn't sure where to put this, figured this is good enough.

    i feel so bad for ticketmaster...or not:
    Net income fell almost 80% to $7.25 million from $32.7 million in the first quarter of 2008. The company said ticket sales were down in concerts, sports and family fare but not arts and theater. Revenue from ticket sales was down 3% from the previous year, and the number of tickets sold was off by 8% because of the expiration of Ticketmaster's contract to oversee admissions for Live Nation events.

  9. #129
    Coachella Junkie Ardentbiscuit's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    Whatever happened with this?

    They need to hurry and do something. It's annoying clicking into Livenation and being redirected to Ticketmaster and vice versa.

  10. #130
    Coachella Junkie shakermaker113's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    but the livenation fee free wednesdays offer is awfully nice.

  11. #131
    Coachella Junkie Ardentbiscuit's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    Yes, the Wednesday specials are awesome.

    Too bad Goldenvoice doesn't run specials.

  12. #132
    Coachella Junkie shakermaker113's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    well if they remain separate companies ticketmaster may be forced to actually be competitive and produce offers of their own. maybe.

  13. #133
    Milkshake suprefan's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    Quote Originally Posted by Ardentbiscuit View Post
    Whatever happened with this?

    They need to hurry and do something. It's annoying clicking into Livenation and being redirected to Ticketmaster and vice versa.
    Cant happen, and you figure they just decided to wotk together to make it easier. %99 of the public associates buying tickets with ticketmaster, not live nation. so the re directing helps the consumer recognize the other brand name, TM scratches their back, LN scratches theirs.

  14. #134
    Coachella Junkie fatbastard's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    Oct 7, 2009 11:03 am US/Pacific Live Nation Extends Discounts To ClubsLOS ANGELES (AP) ― Click to enlarge1 of 1
    Concert promoter Live Nation Inc. is extending its discount Wednesdays program to include general admission tickets at its clubs this week.

    Concert promoter Live Nation Inc. is extending its discount Wednesdays program to include general admission tickets at its clubs this week, as a successful summer of concerts at its larger amphitheaters winds down.

    Live Nation's Global Music CEO Jason Garner says the recession is making it easier to agree with many artists to cut prices and help draw more fans into venues.

    More than 350 artists -- including Jewel, Boyz II Men, and All American Rejects -- agreed to offer 2-for-1 prices on tickets sold this Wednesday for certain shows through the end of the year on LiveNation.com.
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  15. #135
    Milkshake suprefan's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    ummmm

    http://latimesblogs.latimes.com/musi...onditions.html


    The Department of Justice today said it will require Ticketmaster Entertainment Inc. to divest its ticketing assets and license its ticketing software before it can proceed with its proposed $2.5-billion merger with Live Nation Inc.

    The DOJ's antitrust division, along with 17 state attorneys general, today filed a civil antitrust lawsuit in U.S. District Court in Washington, D.C., to block the proposed transaction. At the same time, it filed a proposed settlement that, if approved by the court, would resolve the department's concerns about preserving competition in concert ticketing.

    Under the proposed settlement, Ticketmaster must license ticket software and divest ticketing assets to two different companies, Anschutz Entertainment Group (AEG) of Los Angeles and either Comcast-Spectacor or another buyer, to allow head-to-head competition with Ticketmaster. Ticketmaster will also subject itself to court-ordered restrictions on its behavior.


    Ticketmaster must license a copy of its ticketing software to AEG, the nation's second-largest concert promoter and operator of major concert venues. This would allow AEG to offer an alternative source of ticketing for venues.

    As part of the proposed settlement, Ticketmaster must divest Paciolan Inc., a ticketing company it currently owns, within 60 days. Comcast-Spectator, a sports and entertainment company with relationships with a number of concert venues, has already signed a letter of intent to purchase the assets.

    http://latimesblogs.latimes.com/ente...onditions.html


    Justice Department approves Ticketmaster, Live Nation merger -- with conditions
    January 25, 2010 | 12:17 pm

    Fi-ticketmaster26-blog
    The Department of Justice today said it will require Ticketmaster Entertainment Inc. to divest its ticketing assets and license its ticketing software before it can proceed with its proposed $2.5-billion merger with Live Nation Inc.

    The DOJ's antitrust division, along with 17 state attorneys general, today filed a civil antitrust lawsuit in U.S. District Court in Washington, D.C., to block the proposed transaction. At the same time, it filed a proposed settlement that, if approved by the court, would resolve the department's concerns about preserving competition in concert ticketing.

    Under the proposed settlement, Ticketmaster must license ticket software and divest ticketing assets to two different companies, Anschutz Entertainment Group (AEG) of Los Angeles and either Comcast-Spectacor or another buyer, to allow head-to-head competition with Ticketmaster. Ticketmaster will also subject itself to court-ordered restrictions on its behavior.

    Ticketmaster must license a copy of its ticketing software to AEG, the nation's second-largest concert promoter and operator of major concert venues. This would allow AEG to offer an alternative source of ticketing for venues.

    As part of the proposed settlement, Ticketmaster must divest Paciolan Inc., a ticketing company it currently owns, within 60 days. Comcast-Spectator, a sports and entertainment company with relationships with a number of concert venues, has already signed a letter of intent to purchase the assets.

    The merged firm would be forbidden from retaliating against any venue owner that chooses another company's ticketing or promotional services, under the proposed settlement.

    Ticketmaster and Live Nation applauded the proposed final judgment.

    "Their resolution is a great win for fans," said Irving Azoff, Tickemaster chief executive.

    Ticketmaster, based in West Hollywood, is the world's largest ticketing company. Live Nation is the world's largest promoter of live concerts. It is located in Beverly Hills.

  16. #136
    old school JorgeC's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    "As part of the proposed settlement, Ticketmaster must divest Paciolan Inc., a ticketing company it currently owns, within 60 days."

    Is Paciolan Inc = ticketweb? I wasn't aware of TM owning ANOTHER ticketing company, unless Paciolan is a ticket reseller. hmmm.

    "The merged firm would be forbidden from retaliating against any venue owner that chooses another company's ticketing or promotional services, under the proposed settlement."

    I'm interested in hearing how this would be monitored....
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  17. #137
    Coachella Junkie psycobetabuckdown's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    haha spectacor
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  18. #138
    Coachella Junkie bballarl's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    Yeah, Irving Azoff, this is definitely a win for fans...oh wait, no it fucking isn't. It's a win for your well-lined pockets. Fuck you.

    That said, this isn't nearly as bad as it could have been.

  19. #139
    Member tubescape's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    shoulda bought stock in either TM or LN two days ago...

  20. #140
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    Default Re: Live Nation and Ticketmaster To Merge

    Quote Originally Posted by JorgeC View Post
    "As part of the proposed settlement, Ticketmaster must divest Paciolan Inc., a ticketing company it currently owns, within 60 days."

    Is Paciolan Inc = ticketweb? I wasn't aware of TM owning ANOTHER ticketing company, unless Paciolan is a ticket reseller. hmmm.

    "The merged firm would be forbidden from retaliating against any venue owner that chooses another company's ticketing or promotional services, under the proposed settlement."

    I'm interested in hearing how this would be monitored....

    TM owns ticketweb, silently bought a couple years ago. They just wanted it, they didnt change that much about it. It gave ticketweb a boost since they had funding to start doing a few other things like print at home ticketing and stuff.

  21. #141
    Milkshake suprefan's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge



    http://pollstar.com/blogs/news/archi...12/709543.aspx

    Live Nation Entertainment and Walmart have inked a deal that will allow Walmart shoppers to buy tickets to concerts, sports and other community events at around 500 stores in the coming months, chairman Irving Azoff said today at the NBA Technology Summit in Dallas.

    "Walmart and Ticketmaster have entered into an agreement for selling event access in Walmart stores in select markets,” Azoff told a summit panel. “The system is in the process of rolling out to approximately 500 stores in the coming months, including major market cities such as Chicago and Los Angeles.

    “Tickets can be purchased for community, sporting, and concert events with the help of Walmart associates at registers in the store Entertainment department. We look forward to sharing more information in the future about this partnership."

    Azoff was on the Grassroots Digital panel, alongside Dave Alberga, Charles Barkley, Alan Cohen, Mark Cuban, Daniel Gilbert and Michael Sprague when he made his comments.

    It’s not the first deal the LNE chairman has cut with the megastore chain. He’s obviously had some good luck with Walmart shoppers before, as Azoff engineered an exclusive arrangement for Walmart to be the sole outlet for sales of the Eagles’ Long Road Out Of Eden in 2008.

    The experiment certainly worked. The album was the best-selling disc by a group that year.

  22. #142

    Default Re: Live Nation and Ticketmaster To Merge

    man i would love for google or amazon decide to get into the business, charge far less for tickets but sell far more, and put both of those bastard companies out of business.
    COACHELLA 01, 02, 03, 04, 05, 06, 07, 08, 09, 10...

  23. #143
    old school kroqken's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    We need more ticket competition. Monopolies hurt the music fans and consumers.

  24. #144
    old school
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    Default Re: Live Nation and Ticketmaster To Merge

    Does Pearl Jam still do their own ticket distribution.
    Pitchfork is using Ticketweb. I orderd my tickets & they were @ my house in 10 days.

  25. #145
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    Default Re: Live Nation and Ticketmaster To Merge

    Quote Originally Posted by kroqken View Post
    We need more ticket competition. Monopolies hurt the music fans and consumers.


    It hasnt hurt you, so what are you worried about. you barely by anything in advance, you show up and beg for tickets at the door.


    Quote Originally Posted by shoegazer76 View Post
    Does Pearl Jam still do their own ticket distribution.
    Pitchfork is using Ticketweb. I orderd my tickets & they were @ my house in 10 days.
    ticketmaster owns ticketweb.

  26. #146
    old school kroqken's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    Quote Originally Posted by suprefan View Post
    It hasnt hurt you, so what are you worried about. you barely by anything in advance, you show up and beg for tickets at the door.




    ticketmaster owns ticketweb.
    I usually only buy tickets at teh door at places like the Echo and Spaceland. Otherwise, I pay in advance unless it is a show that will not sell out, like certain shows at the El Rey or the Fonda Theatre.

  27. #147
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    Default Re: Live Nation and Ticketmaster To Merge

    Quote Originally Posted by shoegazer76 View Post
    Does Pearl Jam still do their own ticket distribution.
    For their fanclub, yeah they have an allotment set back for each show for 10club members. Not sure what the ticketstock looks like for each show, might just be box office stock.
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  28. #148
    old school JorgeC's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    Looks like the shows that were being sold on the Livenation website are being moved back to the Ticketmaster site this week. I wonder if they'll remove the links that redirected you back to LN at the same time, otherwise will be very confusing.

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  29. #149

    Default Re: Live Nation and Ticketmaster To Merge

    Now Live Nation wants to increase ticket prices. Well that didnt take long...

    http://latimesblogs.latimes.com/musi...00-ticket.html

    The marriage of Ticketmaster and Live Nation: Say hello to the $400 ticket?
    May 11, 2010 | 2:30 pm

    A POP & HISS COMMENTARY


    Monday was a historic day in the music business. Concert promoter Live Nation Entertainment posted its first quarter results as a newly merged company with ticketing giant Ticketmaster. Much of the post-earnings-call press has focused on the stats. The highlights: Concert attendance for the first quarter was down 3%, and the company's revenue from resale site TicketsNow has fallen sharply.

    But listen carefully to the conference call discussion with Live Nation Entertainment Chief Executive Michael Rapino and there are hints about the controversial company's future. And they are far removed from some of the pre-merger talk, especially when Rapino and Ticketmaster chief Irving Azoff went before Congress and noted that 40% of all concert tickets went unsold.

    Rapino told The Times last year: "In my business, the cheaper the ticket price the better. I'd love for more consumers to walk into an amphitheater, park, have a beer and eat a hot dog. There's no advantage to me to have anything but sold-out shows."

    All sounds reasonable, and could lead one to believe a merger would be good for the consumer. The combined entities could use their data and power to better price concerts, and the fan wouldn't have to worry about being gouged. Why, just look at Live Nation's U2 tour, in which about 10,000 tickets per show were priced at an economical $30 -- binoculars not included.

    So where is the company sensing a growth opportunity? Concert prices!

    "Our fundamental belief at Ticketmaster/Live Nation is the answer to grow our business is less about trying to make $5 or $6 million in service fees off secondaries and much more important to figure out how to capture that $1 billion in up-sell on the face value of tickets," Rapino said during the conference call.

    The exec was answering a question about TicketsNow, which came under fire last year after fans trying to buy tickets to see Bruce Springsteen said they had been redirected from Ticketmaster to the resale site, where tickets had a steep markup. The New Jersey attorney general's office launched an investigation, and as part of the fallout TicketsNow further separated from Ticketmaster.

    "The minute we had to unlink from our website, that business over the last year has deteriorated," Rapino said.

    Indeed, he noted that TicketsNow is currently bringing in about $1 million to $2 million annually. That's down from the $15 million it used to rake in.

    Thus, the strategy going forward: "So, whether it's seat maps, dynamic pricing or just convincing the band that the front row is worth $400, not $100, we're noticing a great reception by artists worldwide who would like to capture more of the upside, and our first goal is to figure out how to price the house right."

    So let's back up. TicketsNow, the company's brokerage site, is suffering. To compensate, the face value price of the concert ticket will likely change, and notice it's not for the cheaper. To be fair, Rapino was speculating about possibilities and not stating any absolutes. But suddenly, the face value of a front row ticket at a concert jumped a whopping $300.

    Proponents of such "dynamic pricing" strategies would argue that the front row is already being sold for $400 on sites such as StubHub, so it might as well be sold at that value from the start. That is, after all, what the market dictates, and dynamic pricing and "seat maps," which easily allow a user to see how much more Row B costs versus Row XX, will add more tiers to concert ticket pricing. Would you pay a little extra for an aisle seat? Someday (perhaps sooner rather than later) you might have that option.

    Now, I don't expect massive corporations to buy into my concert-going ideals. I would, for instance, like to see Peter Gabriel before one of us retires, but his recent Hollywood Bowl show was priced out of my budget -- even the nose-bleed seats were pushing close to $100 when service fees were added in. I don't expect anyone at the concert biz to feel bad about that -- nor should they. After all, I should have paid closer attention in math class rather than studying journalism.

    But take note -- the Justice Department only approved the merger between Ticketmaster and Live Nation in January. It took all of four months for the newly formed company to hint at higher-priced tickets. Four months.

    And the beauty of it all? The company can conveniently trace the change in strategy to the public's complaints about its handling of Springsteen tickets on TicketsNow. Hey, you forced them to re-evaluate their business, and you can no doubt look forward to "no service fee Wednesdays" to score some cheap lawn tickets in Irvine.

    "If we do that," Rapino said of dynamic pricing, "that would be the biggest way to grow our gross revenue versus any secondary strategy that was just capturing the fee side of the business." Generally, the company is thinking of ways to capture the difference between the face value of a ticket and the final price sold on broker sites.

    So, who's ready to go in on a pair of $750 VIP Roger Waters tickets?

    -- Todd Martens
    Let's go on a livin' spree!

  30. #150
    Coachella Junkie rage patton's Avatar
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    Default Re: Live Nation and Ticketmaster To Merge

    Wow. That is some bullshit. So face value for tickets will be $400... and will then be resold for $750. Soon after that, face value will become $750 and will be resold for $1200...
    Quote Originally Posted by bmack86 View Post
    And it's been long established that Chris hates fun.
    Quote Originally Posted by Hatinisbad View Post
    I took my niece this year and it was her first Coachella. It was so fun to see it through her eyes. She thought it felt like a magical scene from Shreck. The one where all the fairy tale creatures meet for the first time in Shreck's swamp.

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