Feeds

Ticketmaster and Live Nation forge unholy alliance

Because concert-going still isn't quite pricey enough for us

Choosing a cloud hosting partner with confidence

Concert scalper Ticketmaster and concert promoter Live Nation have agreed to merge.

Live Nation started life as a promoter of big concerts - Coldplay, Madonna, U2, Jay-Z are all signed to Live Nation. It does some business as a more traditional music label as well as running stadium gigs.

Ticketmaster scrapes a living by adding service charges, booking fees, handling charges and credit card fees to ticket prices for concerts and other live events. The company turned over $339m in the third quarter of 2008 and made a gross profit of $123m.

Neither company confirmed the deal, revealed by the Wall Street Journal. But it is likely to worry regular concert goers and could also worry regulators - the merger gives the new firm a stranglehold on certain kinds of live music.

Joe Cohen, Founder and CEO of Seatwave, the UK's largest fan-to-fan ticket exchange, said

The combination of Live Nation and Ticketmaster will create a company that controls over 70% of the UK ticketing market, the country's largest music promoter and management of over 200 of the world's top artists. Neither party has suggested how this tie-up in any way could be in the interests of fans.

Such an entity could easily control prices and supply in the market, crowd out other promoters and stifle innovation in a sector that sits in the centre of the UK culture. This deal will most certainly mean that we will see increased prices on tickets and job cuts in both companies.

Cohen is not the only one who opposes the deal. Bruce "The boss" Springsteen recently said any such merger would be bad news for fans.

Ticketmaster is also under investigation in Canada for allegedly diverting tickets to scalp sites which resell them at inflated prices. ®

Security for virtualized datacentres

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.