Post Gazette: "Old conventional wisdom: The concert industry is in a slump, the executives in charge don't know how to fix it, and fans are stuck with mediocre concerts.
New conventional wisdom: The concert industry has changed -- welcome to the new reality."
2 comments:
Part of the reason that ticket sales are down but profits are up is that nationwide, Live Nation is balancing the numbers of shows at outdoor amphitheaters and indoor arenas, where attendance is generally lower but, with more reserved seats at higher prices, grosses are generally higher. Look for that strategy to be reflected in next year's Mellon Arena concerts.
That's one way to look at it.
After seeing Tom Petty and the Allman brothers this summer at a combination outdoor amphitheatre with an indoor section, I disgree with the principles of selling less tickets for more money. The concert industry exists on the principle of making as many people interested as possible in the music with the hope of infinite popularity. When art is made selective and prestigous to a limited audience, it becomes less artistic and more commercialized. That sucks. Yet regardless, in terms of business practice, getting more people involved in the concert leads to greater profit potential down the road. The volume of the business is just as important as the profit.
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