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How do they not make a killing? What are they spending their money on? I can't remember how many years ago it's been since I got a physical ticket besides the ones I had to pay them for to print myself.
Technically true since "elsewhere" no longer exists because they worked hard to ensure that was the case.
Lol exactly, hence the monopoly accusations. We're on to you Ticketmaster/LiveNation!
John Oliver did a segment on it. He specifically answered that question if I remember correctly.
I do remember this episode. They go into it a bit at the 5 minute mark, but didn't get into many specifics.
It looks like Hollywood accounting to me still. If we look at the statements from Ticketmaster's site for answers, we get:
And if we look at LiveNation:
And also:
So while plenty of money is leaving Ticketmaster, a very large chunk of that is likely going right back into several of their other pockets.
The LWT piece also goes into how only a minority of tickets actually go to sale to the public, leaving the rest up for resale, which they also have the potential to get a slice of as well, and they have seemingly done nothing to combat resllers or bots.
So LiveNation I can understand having slimmer margins since they seem to be providing actual services and have overhead on their physical ownings and staff, but Ticketmaster itself still seems to mainly by an app and marketing department.
My issue with ticketmaster is the shifting cost of a ticket. If you pre-order, you'll spend more than the "face value" of the ticket. And if you wait 2 weeks, and can still get tickets, it's half the face value. There is no face value if the value keeps shifting.
As I recall, they have the venue tack on an extra service fee charged to the promoter. That fee is then split by some petcentage with Live Nation. It allows Ticketmaster to claim low margins on tickets, while basically collecting a bunch of money right up front, before any tickets are even priced.
I do give them credit for running a creative scam this long while staying technically on the right side of the law, but I gave up on going to shows about 8 years ago now.
Between the crazy cost and dealing with rude fans at the shows, I just pass on going now.