Drums are beating to break up $17 billion Live Nation after Ticketmaster flubbed ticket sales for Taylor Swift and Bad Bunny. Setting aside legal and regulatory questions, there’s an investment case for a split, writes jennifersaba.
Taylor Swift performs during the iHeartRadio Jingle Ball concert at Madison Square Garden in the Manhattan borough of New York City, U.S., December 13, 2019. REUTERS/Caitlin Ochs/File Photo/File Photo/File Photo. Its Ticketmaster business, acquired controversially in 2010, recently botched availability to see Taylor Swift and Bad Bunny and in the process stirred up fans, trustbusters and politicians. A split could be sweet music for all, even shareholders.
Swifties, as her devotees are known, aren’t taking the situation sitting down. A group of consumers already has filed a lawsuit against Ticketmaster in California, alleging anticompetitive behavior. A U.S. Senate panel plans to hold a hearing on the company’s dominance. The White House cited U.S. President Joe Biden’s view that “capitalism without competition isn’t capitalism, it’s exploitation,” when asked about the incident. Swift expressed frustration, too: “It’s truly amazing that 2.
The secondary market aligns more closely with the economic principles of supply and demand, but the primary market features pricing mechanisms that work similarly to how airlines sell seats to generate maximum revenue. For instance, Bruce Springsteen may invite fans to hear him sing “Born to Run” and other classics live for $300 on the primary market, but his popularity means tickets will sell for multiples more on the secondary market.
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