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Business Daily

Is the ticket industry broken?

Sep 9, 2024
17:29
Snipd AI
2023 has seen unprecedented ticket sales, thanks to mega tours by stars like Beyoncé and Taylor Swift. Yet, fans face immense challenges in securing tickets due to monopolistic practices by companies like Live Nation and Ticketmaster. The discussion highlights the frustrations of both musicians and fans, with rising prices and anti-competitive behaviors at the forefront. Advocates call for reforms and transparency to bridge the widening gap between artists and their audiences, aiming for a fairer ticketing landscape.
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Podcast summary created with Snipd AI

Quick takeaways

  • Despite a record year for live music driven by major artists, fans faced significant frustrations with ticket purchasing due to rising prices and technical issues.
  • Calls for legislative reform in the ticketing industry are intensifying as artists and fans demand greater transparency and protection against monopolistic practices.

Deep dives

Record Year for Live Music and Its Challenges

2023 has seen unprecedented growth in live music, with record attendance and ticket sales, largely driven by blockbuster tours from artists like Taylor Swift and Beyonce. Despite this boom, the ticketing industry faces significant challenges, including rising prices and systemic frustrations that fans encounter during the purchasing process. Many fans reported experiencing technical issues and high resale prices when trying to secure tickets, particularly for popular events. The calls for change in the industry have intensified, as both fans and artists express dissatisfaction with the current state of ticket sales and demand legislative action.

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