Comment by mattmaroon
2 years ago
The bands at the top are absolutely not profiting, they’re losing money over it. Instead of a healthy ecosystem of promoters willing to pay them market rates, they’re dealing with a monopsony that depresses earnings. They HAVE to go through TicketMaster venues, because TM has locked up 85% of large ones, which means they have to accept whatever fee the promoter (LiveNation, same company) is willing to pay them. That’s part of why AEG sued them, they are a giant international promoter who is effectively boxed out of the American market by TMs stranglehold on venues and vertical integration.
Venue owners are profiting. LN/TM can pay them a lot for exclusive rights thanks to their monopoly-inflated profits.
The bands get more than a small cut of the various fees, and especially the upcharge things like Platinum tickets.
No they don’t, that’s not how the money works in concerts. The bands get paid a flat fee by the promoter. You can Google this if you don’t believe me but I know from working with concert promoters.
Why would Ticketmaster/live nation pay them at all? They don’t have to, the bands don’t have any other places to play and they make most of their income from live shows.
Platinum Tickets are priced by the artists who get the bulk of the revenue.
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