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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (760960)	4/9/2022 2:36:36 PM
From: TimF	Respond to of 793782

None of that is a direct argument against "Most of the escalation has been in the base ticket price.". However it might be an argument that Ticketmaster is to blame for that as well. Personally I think it isn't a big part of the explanation.. Normal supply and demand explains it well. I think Ticketmaster has formed an entity that edges toward undesirable, non-market-based principles and that sort of bothers me. They are clearly a dominate company, but even actual monopolies (not using the term loosely, real protected 100 percent market share in a broad market, so going beyond what Ticketmaster has) operate in a market. Since they can control supply they can drive prices up a bit, if they restrain supply. If they don't restrain supply then they don't directly drive prices up. Monopolies can't just decide that they will sell X quantity and Y price for any X and Y. If they supply the market thoroughly they have minimal ability to artificially inflate prices. Which is not to say that Ticketmaster has not acted to increase prices, but there moving them up to the market clearing rate rather then before where money was left on the table with prices below what the demand would support. If Ticketmaster never existed I think other actors would have moved prices up to what demand would support anyway whether it was some Ticketmaster replacement, or the venues and the artists and other people involved in the industry.