Elevated ticket costs are burdening fans’ budgets and diminishing the joy of live entertainment.
LOS ANGELES, UNITED STATES, November 1, 2023 /EINPresswire.com/ — John Scher, President of Metropolitan Entertainment Consultants LLC, warns the increasing cost of ticket prices is casting a shadow over the live entertainment industry, leaving many fans unable to afford the high costs of attending events. A recent WSJ/Credit Karma survey reveals that close to 60% of Americans have reduced their live entertainment spending this year due to increased costs. Moreover, approximately 26% of respondents reported spending nothing on live entertainment, a notable rise from the 16% figure before the pandemic. This growing concern has raised questions about the accessibility and affordability of live entertainment for the average consumer.
Scher expresses his apprehensions, highlighting that ticket prices in the live concert industry have escalated to levels unaffordable for the average concertgoer compared to past ticket prices. Additionally, the substantial increase in ticketing service fees exacerbated by the influence of the secondary market has only added to the inflation price.
“In the live concert business, ticket prices often have become absurd compared to even a few years ago. Ticketing service charges have also skyrocketed, and the secondary market has pushed the process even higher,” exclaims Scher.
According to Scher, a central factor contributing to this problem is the monopoly held by Live Nation in the concert production industry. Live Nation also exerts control over the largest ticketing company, Ticketmaster. While this industry structure is perceived as unfavorable for fans, it proves to be highly lucrative for artists, often resulting in entertainers turning a blind eye to ticket sellers who exploit the market with inflated prices. Government intervention in addressing this issue has been notably limited, Scher adds.
“Truthfully, the artists have become complacent as this monopoly allows them to earn more money than they ever dreamed of and turned their attention away from their average fan. The Justice Department has allowed this to happen with hardly any oversight,” asserts Scher.
As the industry grapples with these challenges, fans and stakeholders are calling for greater transparency and measures to ensure that live entertainment remains accessible and enjoyable for all.
Scher is a seasoned Chief Executive Officer with a proven track record in the music industry. He holds expertise in music management, production management, music licensing, and theater. His firm grasp of business development distinguishes him in the field. Throughout his career, Scher has achieved notable milestones, including the successful production and co-production of national tours featuring iconic artists such as the Grateful Dead, Jerry Garcia Band, and Whitney Houston. His managerial skills have extended to artists like Bob Weir, the Allman Brothers Band, Lou Reed, Rusted Root, the Cranberries, and many others.
To learn more about John Scher and Metropolitan Entertainment Consultants LLC, click here: https://metropolitanpresents.com/
Amanda Kent
Boundless Media USA
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