It's not demand, as the article claims. It's just greed. Don't act like you have to demand more money for something because more people want it, you simply choose to for more profit.
this post was submitted on 23 May 2024
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I mean, people are paying for it, right? That’s like the most basic principle of economics. You raise the price to the level the market will bear. It’s not like these are necessities. They’re limited availability entertainment events. Actually, the existence of scalpers who resell for profit implies the price could even be higher.
The part where this becomes a problem is the income inequality among the people who want to go. If everyone had the same income, it would be a matter of who values the show the most. As it is, a lot of people who get to go are a little richer and don’t care about the cost, while some real fans just don’t have the option to go.
Fantastic insight but your last part is no different than anything else for sale. Inequality has always existed and the gap is currently growing for everything, not just tickets. It's as obvious as saying not everyone that wants a Ferrari can have one.
In the context of the article though, it seems that greed has kept a company like Ticketmaster from doing anything about the bots and scalpers(for instance, halting online sales and selling at brick and mortars in locations where concerts occur). They don't need to because they still sell all their tickets, regardless of whether it's to a bot, scalper or legitimate fan.
Perhaps treat tickets like Sudafed. Show your ID to purchase a limited number of tickets and enter the info into a list so he can't keep looping around or heading to another sales location. It's exploitable(like anything) but much less so than the current system.
Yes, you’re not wrong. I think massive inequality is an issue in general.
But tickets are optional, it isn't like food.
Everyone must buy food, one doesn't need to go to a concert.
So by going to the concert, they're saying these prices are fine.
Who's "they"?
Because it certainly isn't the entire fandom.
Someone will always pay more, because they have more to spend. Just because the show sold out doesn't mean an accurate representation of the fandom are the ticket holders.
The prices are not fine for most fans, but there are enough that pay anyway. The majority get punished by the "free market" that they're locked out of. It's not as if there's a cheaper alternative Taylor Swift concert the market can move to.
There's also the fact these are limited time affairs, so even if people aren't fine with it, they don't have a choice if they want to see their favorite artist in their prime.
Also, the idea that if it's not food, it's okay for it to be price gouged is ridiculous. You can take any economic theories you like and blow them out your ass, because the fundamental point is we want a fairer world where the poor are not consistently and routinely fucked over by greed and the wealthy that get to buy special treatment at everyone else's expense. It is not unreasonable to want a world where the poor get to enjoy things at a reasonable cost.
You might as well just say that not everyone needs to fly when we have buses and trains and boats, so why don't airlines just make all the seats first class?
You can try to artificially restrict the prices by limiting access, and maybe you’ll have some success, but as long as there are people out there who are willing to pay more for the tickets, you’re going to be fighting against the market. There’s always going to be someone who finds a way to take advantage. And lowering the prices artificially is directly contrary to the interests of every party involved in creating the show. Maybe the artist is happy with what they make and want to increase access to their show, but the venue, the crew, the label, and the ticket sellers are all going to want to make more if possible.
As I mentioned, the fact that you have scalpers selling for profit on basically every show implies the prices are already artificially low. The way I see it, the only true solution to this issue is fixing the inequality that allows some people to massively out-compete others on price. You can’t really make it cheaper by addressing scarcity in this specific scenario. Only so many people can see the popular artist live. Maybe better simulations of a live show could help. Taylor Swift is doing that to some extent with the theater version.
Did we read the same article?
This article is a fluff piece for Ticketmaster.
Don’t believe it
Yes, right after the article tearing them a new one, Vox published a fluff piece /s
Please share a link to the article
There are multiple but I’ll help you out since you don’t know how to search the internet. Here’s one: https://www.vox.com/culture/2024/4/16/24132509/ticketmaster-live-nation-lawsuit-swift-bad-bunny-beyonce-rodrigo
If you read the linked article above, the one that included this:
Though there are a number of factors involved in this price creep (including high fees, which a 2018 Government Accountability Office report says make up an average of 27 percent of the ticket’s total cost), **the heart of the matter is simple: demand. **
Then yes, we read the same article.
The one that talks about bots crashing websites and resellers gaming the system? Feels like you missed most of the point and took one sentence out of context. It is not regular people wanting tickets.
You do know that Ticketmaster encourages, or at the very least does nothing to stop these bots and scalpers. Hell, they even facilitate this on their own sites. With a service fee at every turn, they make these fees multiple times on any given ticket when resold.
Fuck ticketmaster and I hope their monopoly gets broken.
These things aren't a requirement, they're optional. People don't need to go to a concert.
So by paying these exorbitant prices, they're sending the message the prices are fine.
I haven't gone to a concert in decades, for just this reason. Sorry, I'm not rewarding them.
Wringing every cent you possibly can out of people is also optional, but neoliberals seem to think its mandatory.
You've got it backwards.
The prices are high, because they know enough of their fandom has the means to pay it, and they will.
There's no question that the tickets will sell, and there's no hope that any "message" will ever be sent.
Unrestrained capitalism.
Ticketmaster (Live Nation) must have paid Vox a pretty penny for this PR piece
Ticketmaster has an illegal monopoly on ticket sales. They use this monopoly to drive up prices and keep the competition out
Ticketmaster (LiveNation) should be broken up
The secret third option to pour some water on fiery demand is not exactly popular, but it is simple: Make the tickets more expensive on the primary market.
It’s easy to see why artists are reluctant to set their prices to what a ticket would sell for on, say, StubHub. Fans would rightfully complain, and many musicians do want to give all fans the chance to come to their shows. But one surefire way to deter scalpers would be to raise prices and narrow the margin that a reseller could make by flipping a ticket. (Theoretically, there’s a ceiling on what people would pay for concert tickets, and surpassing it would quench demand.) There’s a logic to doing so for artists: If a ticket sells for $100 on the resale market compared to $50 on the primary market, “the scalper’s making more than you are from your art and your labor,” notes Koebler.
Leave it to an economist to find the "solution" that completely ignores the actual problem.
Just stop online ticket sales. From now on your have to go to the box office.
Ticketmaster and Live Nation already fighting dirty on this lawsuit by paying Vox to write this article. Expect a lot more articles like this as they try to sway public opinion for their lawsuit.
I love when people read half the article and not the conclusion