Let’s simply say that it was good to be a live performance promoter in the summertime of 2022, because the ticket behemoth Live Nation released their Q3 reporting yesterday, which mirrored document attendance—and hovering income—for the agency that so usually finds itself within the crossfires of followers and lawmakers alike.
Although, in an attention-grabbing twist, and maybe seeming to sense a few of the warmth, Dwell Nation particularly addressed state and federal efforts to extend transparency within the ticket-purchasing course of, particularly because it pertains to the so-called “hidden” charges and repair prices. Of their reporting, Dwell Nation wrote the next:
“Lastly on Ticketmaster, a degree on some latest press concerning ticketing charges. We are going to proceed to advocate for payment transparency in reside occasion ticketing. We advocated for the all-in pricing mandate handed in New York earlier this yr, which requires face-value costs and costs to be proven upfront – and we assist the FTC mandating this nationally. We function ticketing marketplaces in additional than 30 international locations all over the world and have seen all-in pricing adopted efficiently in lots of international locations when mandated throughout the board. This solely works if all ticketing marketplaces undertake collectively, so that customers actually can precisely examine as they store for tickets.”
So, primarily, if you happen to learn behind the traces—Dwell Nation does not see themselves as the issue. They view themselves as one entity attempting to function affirmatively in a market stuffed with unhealthy practices. And whereas, as a enterprise follow, I can perceive that argument, I am not essentially certain that is going to fly very far for John Q. Public—particularly once they discover out the agency’s reported income for the third quarter—a really cool $6 billion—which is up 63% from 2019.
If you want, you possibly can learn the total overview of Dwell Nation’s third-quarter outcomes here.
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