Business Because It Really Can’t Be Said Too Many Times…
posted by March 17 at 10:44 AMon
… Ticketmaster is an an embarrassment to the music industry and the fans who’ve been judo-flipped into playing—paying—along.
And, in case you needed reminding, Sean Moriarty, CEO of Ticketmaster, consented to a public interview at SXSW during which he couldn’t help but be true to his nature—a mega-market automaton. As reported by the Chicago Trib’s Greg Kot:
Moriarty was presented a grand opportunity to make a case for Ticketmaster as a company that doesn’t deserve its reputation for gouging consumers and kicking back the spoils to its clients. But his responses were the equivalent of a carefully tailored corporate press release that pretends to say something profound while in reality thumbing its nose at the recipient:
Ticket prices and fees are determined by “people’s willingness to pay for them.”
The reasons behind high service fees “are more complex than people know.”
People who complain about high service fees “don’t understand the underlying infrastructure.”
Even though concert promoter Live Nation will soon disconnect from Ticketmaster, and in the process take away 15 percent of its business, “competition is good for consumers and good for business.”
“Being a lightning rod [for criticism] is not a good service business to be in… It’s a detriment to the brand.”
Moriarty managed to veer from the stock answers only when talking about the lucrative secondary ticket market, in which brokers resell tickets for big events at huge mark-ups. The CEO was unusually transparent in his desire to cash in on the “multibillion-dollar global opportunity” presented overseas, following Ticketmaster’s recent purchase of TicketsNow, the nation’s second largest secondary-ticket outlet. For Ticketmaster, the resale market is one in which “we can and should have category leadership.”
Now there’s something to dread.