Home Entertainment ‘It’s called capitalism’: Ticketmaster’s ex-CEO defends the company’s business model

‘It’s called capitalism’: Ticketmaster’s ex-CEO defends the company’s business model

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as it happens10:40‘It’s called capitalism’: Former Ticketmaster CEO defends company’s business model

People unhappy with Ticketmaster are just lying in beds they’ve made, the company’s beleaguered former CEO claims.

Lawyer Fred Rosen, who ran the ticket company from 1982 to 1998, Ticketmaster US Senate Hearings Frustrated.

US lawmakers focus on competition and consumer protection in the live entertainment industry. At the center of the hearing was Taylor Swift’s concert, when more than 3.5 million people registered for his tour’s Ticketmaster pre-sale, and the system collapsed under pressure. It’s a huge pre-sale failure.

Fans and artists alike have lashed out at the company. Some US senators have accused Ticketmaster of holding a de facto monopoly and called for more regulation and oversight.

But Rosen says Ticketmaster is just an easy target.this is part of a conversation with him as it happens Host Nil Koksal.

Problem with Ticketmaster? Are fans directing their frustrations in the right places?

there were [3.5 million] Attempts to break into the Ticketmaster system. No system on earth can do that.

It’s easy to blame the Ticketmasters and blame them. But here’s the truth. The representatives of this act must have been told not to sell all the shows at once. And they chose to do it anyway.

In the normal course of an event, if we have enough tickets and enough events, enough hours and enough nights, we’ll handle it.

So, did Taylor Swift’s team, or Taylor Swift herself, put too many shows on the market at once?

I wouldn’t have sold all the shows when I knew the demand would be so excessive.

Joe Burchtold (left), CFO of Ticketmaster parent company Live Nation Entertainment, and other witnesses are sworn in to testify before the Senate Judiciary Committee. (Kevin Lamarck/Reuters)

The issues fans have with Ticketmaster predate those of Taylor Swift. Ticketmaster was ordered to pay a $4.5 million fine and $500,000 in costs. Here in Canada, the Competition Bureau has suffered losses after investigating allegedly misleading pricing in online ticket sales. In 2018, CBC News investigated Ticketmaster. Suspicion of recruiting scalpers at a scalper conference. so I…

I was asked to discuss Ticketmaster, not what happened after I left. I didn’t go near any of them.

I didn’t ask if you were directly involved. All I can say is that fans have a history of mistrust because of these issues on top of the Taylor Swift incident. you told the los angeles timessir, you believe fans are largely responsible for what’s going on with pricing.

It’s really that simple. they stole all the music. That means his 90% of the artist’s revenue comes from live ticket sales.

do you know what i love This is what I really like. I think it’s really attractive. If you answer the phone or want to do these interviews, everyone wants to shoot Ticketmaster.

Ticketmaster does not set prices. Ticketmaster does not set which shows will go on sale. Ticketmaster does not determine the number of tickets sold.

It was around the same time that the Internet started when I was in business. Approximately 50-60% of an artist’s income comes from recorded music. When Napster comes along… and all artist income is gone, except for the superstars, it has to go somewhere else. It’s physics.

There is a University of Chicago professor quoted in the LA Times, Eric Budish says, “Ticketmaster is practically paid to be a punching bag.” But why do you think people are paying attention to Ticketmaster and not artists?

Me [made] This was for Ticketmaster to hit everyone, but Ticketmaster never got all the money. Don’t you understand that this is a business?

Everyone gets mad at Ticketmaster. Let’s do away with Ticketmaster. You are now a ticket company. do you think they like you more?

Naturally, every venue operator, whoever does it, knows: It’s a thankless job. why do you do that? Because it is economically profitable and someone has to do it. So you do it.

You said Ticketmaster built it that way to get hot. But you sound really mad about it after all these years.

I’m not mad about it. I think it’s ridiculous that people aren’t smart enough to realize it’s a game.

Is it Ticketmaster’s fault that there is ten times more demand than there are seats to be sold?

But is Ticketmaster helping fuel that demand?

We fuel nothing!

In sports, when prices go up, it’s a badge of honor. At concerts, prices go up. As you know, it’s the end of the world.– Fred Rosen, Former CEO of Ticketmaster

Ticketmaster offers dynamic pricing and the ability to filter out confirmed buyers, with or without quotes, that many ticket buyers will not believe are verified buyers. I have it. Although they look like scalpers who are no longer standing on the corner… sitting at the computer and scooping up a bunch of tickets will cost you many times more than the original price the next day. was setting. So Ticketmaster can control it, right?

they don’t. Give the artist a choice. You go to the store to buy a blouse. “I want red instead of blue,” you say.

It’s up to the artist, not Ticketmaster. you are completely wrong.

Well, search to find the answer.

I just gave you the answer.

Artists and promoters decide which tickets to sell, what to price, and whether to use dynamic pricing.

People stand outside holding banners calling for the dissolution of Ticketmaster and Live Nation.
Protesters will rally outside the US Capitol on Tuesday against the entertainment ticket industry. (Drew Angerer/Getty Images)

So we fans have a demand for artists…should we say no to dynamic pricing and verified resale for big acts, not smaller acts?

Ultimately, I think the anger is misplaced. let me ask this question. Who is the recipient of all the money? Follow the money. Who is the recipient? The receiver is an act.

If Ticketmaster is doing everything it should, what do you think is the harm in increased competition and scrutiny?

The first is called capitalism.

Second, this is a big mistake that everyone makes. More ticket companies don’t change their prices. It’s demand that determines prices. There are 400 ticket companies, and the price stays the same even if you have the same number of tickets.

Frustrated trying to buy a ticket?

I don’t go to events very often. When I was running Ticketmaster, I didn’t attend many events.

Did something change when you tried the experience from the user’s point of view?

i have to say something to you And I mean, you are such a lovely woman.because you are a person [have] have to grow. People have to realize it’s a business.

The truth – and this is what no one wants to deal with – is that everyone pays more for a ticket than they want because you don’t have to go. Noblesse obligeThe fact of the matter is, it’s entertainment.

When the Philadelphia Phillies were [the World Series] …People in Philadelphia were proud of the fact that every ticket to a Phillies game was over $1,000.

In sports, when prices go up, it’s a badge of honor. At concerts, prices are going up, it’s the end of the world, as you know, and ticket companies are Kidnap Lindbergh’s baby.

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