Author Topic: The tickets are worth what they're worth  (Read 16881 times)

raebyddet

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The tickets are worth what they're worth
« on: September 02, 2003, 09:34:00 am »
Ticketmaster is going to start auctioning off the best seats to concerts online.
 
 "The paper says there would be no limit on how high prices could go - it would be simply a matter of how much people were willing to pay."
 
 "The tickets are worth what they're worth," said Ticketmaster CEO and president John Pleasants, in an interview with the Times. "If somebody wants to charge $50 for a ticket, but it's actually worth $1,000 on eBay, the ticket's worth $1,000. I think more and more, our clients - the promoters, the clients in the buildings and the bands themselves - are saying to themselves 'Maybe that money should be coming to me instead of Bob the Broker.' "
 
 http://www.cbsnews.com/stories/2003/09/01/tech/main570971.shtml
 
 Not that it will really affect shows at the 930, but it doesn't seem like a good idea. I know this essentially happens already with the front row seats to a lot of concerts being sold by brokers on eBay. This would just seem to eliminate any chance for fans that don't have a lot of money to spend on concerts to get good seats.

kosmo vinyl

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Re: The tickets are worth what they're worth
« Reply #1 on: September 02, 2003, 10:22:00 am »
Quote
Originally posted by raebyddet:
  Ticketmaster is going to start auctioning off the best seats to concerts online.
 
 "The paper says there would be no limit on how high prices could go - it would be simply a matter of how much people were willing to pay."
 
 "The tickets are worth what they're worth," said Ticketmaster CEO and president John Pleasants, in an interview with the Times. "If somebody wants to charge $50 for a ticket, but it's actually worth $1,000 on eBay, the ticket's worth $1,000. I think more and more, our clients - the promoters, the clients in the buildings and the bands themselves - are saying to themselves 'Maybe that money should be coming to me instead of Bob the Broker.' "
 
  http://www.cbsnews.com/stories/2003/09/01/tech/main570971.shtml
 
 
Translation:
 
 "Profits are down  for Ticketmaster and Clear Channel and the stockholders aren't happy.   So in order pay for all the debts and executive bonuses we have found a way to screw the consumer even more.  The service fees alone on a $1000 ticket will more than cover the extra security costs required when Bob the Broker starts losng money.
 
 Personally I'm hoping to cash in some stock options after the stock price goes up..."
T.Rex

kosmo vinyl

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Re: The tickets are worth what they're worth
« Reply #2 on: September 02, 2003, 10:25:00 am »
so seriously how long before they withdraw this new policy?  and will regulators continue to give the blind eye to ticketmasters, give they have the largest share of ticketing for shows and are clearly using that to really stick it to consumers now.  bring on the fan clubs!
T.Rex

markie

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Re: The tickets are worth what they're worth
« Reply #3 on: September 02, 2003, 10:33:00 am »
as this is essentially the same as scalping tickets, I think I should also be allowed to sell tickets to the highest bidder outside of a sold out show, just before it starts.
 
 In all seriousness if ticketmaster sell 1 ticket for $100, can other tickets then be legally resold at that price, or does it have to be the face price still, even if both are GA?

Bags

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Re: The tickets are worth what they're worth
« Reply #4 on: September 02, 2003, 10:37:00 am »
You're right, Markie.  Ticketmaster can do this, but they're going to bust me outside the venue for selling a ticket at any price?
 
 And the concern here is not that front row tickets go for $1000, but that prices to all tickets to a sold-out show will rise to insane amounts.  And just about every band has fans willing to pay whatever they have to, raising the overall market price.
 
 Regulators (who regulates this, by the way?) can't allow this.  If costs are based solely on market-driven indicators, then the seller has to be proven to have no market power.  Actually, this may be the wedge to finally open that door so that a ruling can be made that Ticketmaster has inordinate and unacceptable market power here.

markie

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Re: The tickets are worth what they're worth
« Reply #5 on: September 02, 2003, 10:44:00 am »
Quote
Originally posted by bags:
 If costs are based solely on market-driven indicators, then the seller has to be proven to have no market power.  
I did not know that.....
 
 as TM has most shows and all ticketing at a particular show, it would put them in an untenable situation. YAY!

Metal Meltdown

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Re: The tickets are worth what they're worth
« Reply #6 on: September 02, 2003, 10:55:00 am »
this has been a terrible year for concerts..they should go for it and alienate the consumer a little more....

sonickteam2

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Re: The tickets are worth what they're worth
« Reply #7 on: September 02, 2003, 11:01:00 am »
the end of the world is coming...for sure.
 
   i am waiting for the inevitable "anal cavity search" before entering any venue.

mankie

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Re: The tickets are worth what they're worth
« Reply #8 on: September 02, 2003, 11:05:00 am »
Quote
Originally posted by sonickteam2:
 
 
   i am waiting for the inevitable "anal cavity search" before entering any venue.
you and Rhett.

mankie

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Re: The tickets are worth what they're worth
« Reply #9 on: September 02, 2003, 11:12:00 am »
You know, the solution is really quite simple...DON'T BUY TICKETS FOR SHOWS THAT YOU THINK ARE OVERPRICED. I didn't go to college but I think in economics there's something called "supply and demand".  ;)   As long as people pay it they'll keep raising the prices.
 
 Bitching about it while pulling out your wallet is not going to change anything.

kosmo vinyl

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Re: The tickets are worth what they're worth
« Reply #10 on: September 02, 2003, 11:17:00 am »
so the "fans" get to "control" the price the of the first ten rows at a show... does this mean that ticket brokers are going to close up shop?  of course not it just means that they will still be buying up tickets and getting whatever the corporate ticket buyer is willing to pay for them.  and they'll be able to get close to whatever the "fans" paid for the best tickets.  in fact it will make it easier for them to justify what they charge.  of course the rest of the crowd gets to pay loads for the the right to sit in the nose bleed sections having been locked out by those willing to pay a premium.
T.Rex

markie

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Re: The tickets are worth what they're worth
« Reply #11 on: September 02, 2003, 11:22:00 am »
Quote
Originally posted by mankie:
  DON'T BUY TICKETS FOR SHOWS THAT YOU THINK ARE OVERPRICED.
but when a show sells out, that means it is underpriced? So by that logic TM is correct in auctioning tickets.

sonickteam2

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Re: The tickets are worth what they're worth
« Reply #12 on: September 02, 2003, 11:24:00 am »
Quote
Originally posted by mankie:
  You know, the solution is really quite simple...DON'T BUY TICKETS FOR SHOWS THAT YOU THINK ARE OVERPRICED. I didn't go to college but I think in economics there's something called "supply and demand".   ;)    As long as people pay it they'll keep raising the prices.
 
 Bitching about it while pulling out your wallet is not going to change anything.
the problem is, mank, HOW LONG are we going to have to "protest" and not see the bands we want to so that prices will come back down, 1 year? 2? 5? , i mean, i dont want to wait til i am 30 to start being able to go back to shows....
 
   its a tradeoff i suppose, and there are maybe 2 bands i will pay more than $50 for, but still!! This is CERTIANLY not a way to "let the fans control" at all, thats a lie and everyone knows it.

ggw

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Re: The tickets are worth what they're worth
« Reply #13 on: September 02, 2003, 11:26:00 am »
They should implement this policy for all tickets.
 
 Therefore, a not-so-popular show would sell tickets for their market value.  If not enough people were interested at $20, the tickets would sell for say, $3.00.
 
 I'm curious about what happens to the money.  Does TM get to keep the excess profit? Or, does it go to all parties involved in the concert?

sonickteam2

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Re: The tickets are worth what they're worth
« Reply #14 on: September 02, 2003, 11:27:00 am »
I do think this is really only going to affect a small FEW of the shows we go to though. I doubt this will affect that many of the club shows....more like the stadium/arena/ampitheather type shows, which i have been to 3 of all year...and 2 were Radiohead.