Feeds

Ticketmaster and Live Nation forge unholy alliance

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

Designing a Defense for Mobile Applications

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. ®

Using blade systems to cut costs and sharpen efficiencies

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.