The answer is capitalism, I know.
But it wasn’t always like this. Why the hell are they allowed to absolutely monopolize all shows and venues? How are there not laws on this?
Is stopping going to any shows the only way to fix this? If so, that wont happen. People are gonna go see their favorite bands (and ticketmonster knows it)
I wish this one was as easy as getting rid of all my streaming services - but they really fucked us over for live shows.
It’s an open market. People will pay what people will pay. Ticketmaster knows this and plays on this to optimise their revenue. I’m not sure you can do anything apart from explicitly cap ticket prices. At which point venues and more importantly artists will kick off and refuse to play.
Do you think Beyonce is going to be happy with her tickets selling for $50 capped? I don’t think so. Children gotta eat!
thats is opposite of a open market, in an open market you have more than 1 “ticket” company competing for prices. in this case, sometimes its also a oligopoly(which is multiple companies have share the same market) and they often collude with each other determine pricing of any items. monopoly is the sole market of an service which they can determine pricing in anyway they choose.
an example of oligopoly is insulin types. only 3 companies controlled the different variations of insulin and agreed upon each other to price it however they wanted, since they had no competition.
what you also said paying what the price is, its called a walled garden of services/items.
It’s a captured market. People will pay what they have no choice in paying because regulators have abdicated their responsibilities. This system wasn’t built to last. It won’t.
Break up live nation using tried and true antimonopolist legislation. Better yet make a publicly owned alternative.
😅. Sorry what I meant was that if you don’t want to pay then you don’t have to. Nobody is forcing you to go see Taylor Swift… are they? And Ticketmaster know that if you don’t pay someone else will.
What type of market is that? I’m not an economist.
Monopoly.
It’s not just Taylor Swift concerts, it’s virtually all concerts, and literally all concerts at the medium-large venue size.
A monopoly of a non-essential product/service is still a monopoly, and bad for consumers.
A monopoly is the opposite of an open market
No, a monopoly is the inevitably of an open market.
Someone should make a children’s board game to prove this point.
The thing with that particular board game, is that all players start out equal. It is only luck that gives you a leg up, then some skill. Reality is very similar, as being born rich is lucky and out of your control. The only difference is that in reality, you can have no skill with enough money, and still come out on top.
No it isn’t.
Libertarians who don’t understand monopsony are a dime a dozen.
Beyonce will just as happily take 50% of a $50 ticket as 5% of a $500 ticket. But she draws big crowds, which means the venues she can play are limited to the giant (municipally subsidized) stadiums. These stadium owners have conditional arrangements with Ticketmaster as a vendor for a whole host of business and political reasons. So Beyonce can’t perform in Houston at a location that seats over 10,000 without negotiating through Ticketmaster.
Since so many of these stadiums are publicly subsidized, one might argue that the public has an interest in regulating (or, if we want to go balls-to-the-wall socialist, owning and operating) the locations. At that point, the state or federal government might even have an interest in building and operating an exchange for booking venues and buying/selling tickets. And all of this could be done at-cost, which might allow the public to enjoy the benefits of entertainment venues without paying an enormous rent to private landlords.
But why kill the golden goose? The only people who really benefit from such a system are the worthless fucking proles, who don’t really matter and who can all get fucked. Social power brokers benefit immensely from the wealth these choke points in the entertainment economy create and from the exclusive access to popular artists that this leverage provides.
Fucking what?