OnDemand WTP Pricing Research

Live Nation has pushed concert prices up in the past 18 months.. and it’s paid off to the tune of $500m | Music Business Worldwide

Live Nation has been operating dynamic pricing for some time, via the ‘Platinum’ initiative of subsidiary Ticketmaster.

‘Platinum’ enables Live Nation to sell tickets to certain segments of any show at a higher price than the rest of the room/amphitheater/stadium. Ticket prices can respond to market demand in real time, much like they do when you’re buying a seat on a passenger airplane.

These higher prices quash two controversial elements of the secondary market: (i) the appeal for artists to dabble in dodgy ticket ‘resale’ of primary tickets; and (ii) the commercial opportunity for professional ‘scalpers’ to buy and sell tickets online.

In the past 18 months, especially, ‘Platinum’ pricing is having a hugely positive impact on Live Nation’s commercial performance – and, you’d therefore have to assume, a materially negative impact on secondary ticketing as a whole.

Speaking on an earnings call last Thursday (July 25), Live Nation CEO, Michael Rapino, said: “Globally, we continue to work with artists to enable them to capture the value from their shows. Through optimized pricing and Ticketmaster tools such as Platinum, we have delivered over $500 million in incremental value to artists since the start of 2018.”

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Live Nation has pushed concert prices up in the past 18 months.. and it’s paid off to the tune of $500m – Music Business Worldwide.

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