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Ticketmaster charging $55.80 service charge on a $75 ticket. Sure, that seems totally reasonable.(r/Music)
As an engineer and business owner of a ticketing company, man does this topic get me going. I’ll recommend a book called Ticket Masters: Rise of the concert industry… (www.amazon.com/Ticket-Masters-Concert-Industry-Sca…)
I’ve made it a near purpose in my life – because I believe that the way these guys do business is fundamentally unsustainable. It’s all about back-door business deals – contracts – it’s never been about an end to end experience for the fan.
I guess the thing I’ve learned is that you can’t beat TM at it’s own game: money. You see all these ticketing companies pop up, eventbrite, ticketfly … they’re all raising massive amounts of capital. To do what? Buy business – the same way ticketmaster does.
I don’t have the answer yet, but I’m working hard to offer an alternative, based on a product vision and staying as lean as possible (funding it myself, living in a closet). Piece by piece I’m hand-building a product to compete. I ticketed my universities annual festival (6,000 people, UBC in Vancouver BC)… offering features such as one-tap ticket purchases via an app, instant ticket transfers to friends (using email, phone number, or facebook). I have to charge a ‘convenience fee’ to survive – as it’s simply the industry standard – but eventually I want to be able to offer my product as a service, paid for by my venue/event clients, NOT the end consumer. I believe that is the base for a healthy business relationship
tl;dr the business of professional event ticketing is America’s great monopoly, I am trying to fix it.
Also, Live Nation loses money. They won’t be around much longer, in my opinion. Until they pass the shit-baton to the next person