Ticketmaster Live Nation's Revenue Model

Ticketmaster Live Nation is a very low margin company. We don't think they're service fees that are just beautiful add-ons to make a ton of money. The challenge in our industry is we have kept the margin, the distribution cost, if you want to call it, outside of the price. To get the show done, it isn't $48. It's $76. So the quicker we decide that it's a $76 experience, the better will be as an industry than what we're doing today.