Couldn’t get Eras Tour tickets? Industry practices, lack of competition could be to blame [MoneySense]
Live Nation Entertainment, Inc. (LYV)
Last live nation entertainment, inc. earnings: 10/31 04:01 pm
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Source: MoneySense
They often log onto ticket sites only to find prices that jump dramatically as they browse an arena of quickly disappearing seats. In other instances, shows are so in-demand that artists resort to presale lotteries and fans that strike out end up on resale sites where seats are routinely advertised for several times their face value.But how do you fix a series of problems that have only intensified over time?Lack of competition in ticket industrySome say the solution lies in breaking up the behemoth that dominates the ticket industry. Others say even if you dismantle monopolies, there’s still plenty of work that could be done to address eye-popping prices and a system some compare to a “black box.”Kevin Callahan, the head of North American government relations for resale giant StubHub, is in the camp pushing for more players in the ticket sector, where he said 80% of primary seats and a growing share of resale seats at major venues are sold by his company’s main rival, Ticketmaster.“I
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