Live Nation and Ticketmaster Merge: What does it mean for Broadway?
While I’m always fearful whenever competition falls away, I’m also a big believer in bringing systems “in-house” to allow other ancillary forms of revenue to offset costs of production (do you know how many more Broadway productions would recoup if they were able to reap some of the benefits of ticketing fees, concession fees, etc. . . . and more shows recouping, would mean more people investing, which would mean more productions that could take more artistic risk).
Live Nation is primarily a Producer, and I’ve gotta believe that they will tackle the revamping of the ticketing industry from that perspective, rather than the former TM perspective which was to make as much money for the ticketing transaction as possible.
So, I’m bullish that the merger could be good.
What does this mean for the Nederlander Broadway houses that currently use Ticketmaster?
Do I expect service fees to drop? Not likely. But I do expect the customer service experience (and the website) to improve (LN has already committed to a more transparent ticketing fee structure with no “nibbling” fees for print-at-home tickets, etc. that get tacked on at the end of transactions.
There is one thing that does make me nervous. One of the other things that Live Nation did over the past few years to shake things up . . . was sell off their Broadway biz.
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Ken created one of the first Broadway podcasts, recording over 250 episodes over 7 years. It features interviews with A-listers in the theater about how they “made it”, including 2 Pulitzer Prize Winners, 7 Academy Award Winners and 76 Tony Award winners. Notable guests include Pasek & Paul, Kenny Leon, Lynn Ahrens and more.