Word: ticketing
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...merger result in lower ticket prices for the public? Phillips said Live Nation has a history of being "aggressive" with pricing. "We walked away from bidding on Fleetwood Mac because we thought the guarantee was too high and what we'd have to charge the public would be too much," he said. Mickelson noted that Live Nation's new ticketing company introduced service fees that were even higher than Ticketmaster's: "A Coldplay ticket at a Ticketmaster building had a $15 service charge, and the same Coldplay ticket at a Live Nation ticketing venue had a $21 service charge...
...didn't help Ticketmaster's merger prospects when it found itself in hot water over the Springsteen ticketing controversy in February. Basically, fans were told that tickets were sold out minutes after they went on sale and were automatically diverted to Ticketmaster's resale company, TicketsNow, where they were forced to pay scalper prices for the tickets. "That was just an outrageous event," said Landau. The Boss himself rallied fans against the Ticketmaster merger. "The one thing that would make the current ticket situation even worse for the fan than it is now would be Ticketmaster and Live Nation coming...
...Democrat who demanded congressional hearings into the matter. "Given Ticketmaster's recent mishandling of Bruce Springsteen's tour and other shows, it is clear that this company's questionable business practices warrant sharper scrutiny." Earlier this week, the Congressman introduced a bill, named the Boss Act, that calls for ticketing companies to disclose how many tickets are being withheld in primary public ticket sales and a 48-hour waiting period before tickets can be sold in the secondary market, among other things...
...Azoff said he supports efforts to clean up the ticket-reselling business, which he calls "the Wild, Wild West of the business" and hints that Ticketmaster may sell its TicketsNow resale entity if the merger goes through. "The furor about the secondary market really has nothing to do with this merger," he said. Azoff said he would ultimately like to see the merged entity offer dynamic pricing, whereby front-row seats are offered in the primary market at prices well above the average - possibly up to $1,000 - while nosebleed seats are sold below the average price for as little...
...Still, vertical mergers historically tend to benefit consumers, according to Antoine. "Anytime you have a vertical merger, it creates efficiencies," he said. "Whether this is helpful to the artist or consumer or ticket buyers is another debate...