One for the Ticketmaster haters in the audience
It seems that monster concert promoters Live Nation (who, as you all know because you follow these things really closely, are in cahoots with our very own DMC, sorry MCD Concerts) have decided to end their deal with the much …
It seems that monster concert promoters Live Nation (who, as you all know because you follow these things really closely, are in cahoots with our very own DMC, sorry MCD Concerts) have decided to end their deal with the much loved ticket selling service.
Per the New York Times (who thankfully care as much about this kind of thing as I do):
Signaling a shake-up in the financial structure of the live entertainment business, Ticketmaster said yesterday that it did not expect to extend its long-term contract with Live Nation, the world’s biggest concert promoter.
The split between two of the biggest powers in live entertainment comes amid a wide-ranging tussle over the division of money generated from ticket service charges and control of customer data. It also comes as the sale — and resale — of tickets has emerged as a coveted source of revenue in the music business as CD sales plunge.
So what does this mean? Well, for a start, it means a bit of a blow for Ticketmaster’s bottom line.
Sales from shows put on by Live Nation and House of Blues accounted for more than 15 percent of Tickemaster’s roughly $1 billion in revenue last year, according to an executive briefed on the company’s affairs.
It also means that Live Nation may have to set up their ticket selling service. Ticketmistress anyone?
Live Nation now faces the prospect of having to expand its own small internal ticketing operation or form a partnership with another outside ticketing agency. Live Nation took a step toward expanding its ticketing operation with the acquisition of Musictoday, a company that runs artist fan clubs and handles direct sales of tickets.
Expect this move to cause significant waves in how you buy your ticket for shows in 2008. And yes, you’ll still have to pay those “convenience charges”.