OP-ED: This potential merger will take an industry that thrives on taking advantage of consumers and make it even more attainable for unconscionable practices to become the norm.
Ticketmaster and Live Nation thrive in the shadows and are forced to find creative ways to keep a wide group of stakeholders happy and fed. Questionable service fees used to do the job, but with the potential ability of directing significant ticket inventory (which this merger will allow them to exclusively control) into a secondary exchange. you have some powerful groups salivating at the thought of keeping these revenues in their pocket: This is the dirty little secret of the deal and is a substantive issue that regulators and fans should be aware of.
If this deal goes through, there is nothing to stop this new company from shifting inventory into the secondary market before fans ever get a chance to buy their ticket. Just ask The Boss (Bruce Springsteen) about the impact it will have on real fans.
Consumers need an independent, transparent platform to allow them to buy or sell tickets. These 25-20% in additional fees are ridiculous. The days where shady backroom deals are the norm in the entertainment business must end; consumers must be the # 1 priority. This potential merger could bring dark days for consumers. Music fans deserve better.
Michael Hershfield
Co-Founder and CEO of LiveStub
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More: Live Nation & Ticketmaster Near Merger and An Angry Springsteen Opposes Merger
