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January 08, 2009

Live Nation Ticketing goes live...

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The secondary market, as it does in all facets of the live music industry, is sure to play a major role, particularly as the amphitheater season looms. Though Garner declined to discuss specifics, he did say, “We’re now able to really work with artists to go out and capture secondary revenue and put it in the gross by controlling revenue. That can offset a lawn ticket going from $25 down to $20. We’re uniquely positioned in our amphitheaters because we own them and have access to so many different sources of revenue. That alone, with our own ticketing system, has given us a real flexible ability to meet the needs of this economy.”

Live Nation, like the rest of the primary industry, seeks greater control of the secondary market and the revenues it generates. “There’s that opportunity to capture revenue that’s just escaping right now. The fact that there are millions and millions of dollars in revenues the artist isn’t seeing and the promoter isn’t participating in, when the artist and promoter are the only two invested parties in the show, that just doesn’t make any sense,” Garner says.


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