Billboard is reporting that two of my personal least favorite companies, Ticketmaster and Cablevision–the latter of which counts Madison Square Garden and the MTV-in-Pull-Ups network Fuse among its holdings–are on the verge of collectively acquiring a 49% stake in AEG Live, the second-largest concert promoter in the United States. (AEG’s tours–which included Hannah Montana and Bon Jovi–took in $742 million last year, according to Billboard; the ever-expanding Live Nation was in the pole position.) According to sources, Fuse is in fact a key part of the deal, and the channel will be aggressively rebranded so that it can show the world that “AEG Live [is] a company now armed with a large media component and the world’s largest ticketing company in Ticketmaster.” But don’t change that dial just yet! That MBA mumbo-jumbo just means that you’ll probably be able to watch more live broadcasts of AEG Live-booked shows that just happen to be taking place at Fuse’s neighbor across the street, Madison Square Garden–not to mention festivals like Coachella and All Points West, which AEG also has a hand in booking. And wait, there’s more!
Given that Live Nation has been making a lot of noise about getting into the ticketing business itself, this deal could be seen as Ticketmaster’s attempt to have a concert promoter of its own in its pocket–although as Billboard points out, this proposed partnership won’t necessarily make up for the 15 million tickets that TM won’t be selling once Live Nation’s in-house ticketing system goes live next year. But it will be able to harness its “unique marketing power,” i.e. its ability to drive its customers absolutely crazy thanks to charging them two bucks for things like using their own paper and ink to print out an already-overpriced ticket. Ah, Ticketmaster, you’re so good at involving yourself in battles that should end in both combatants accidentally spiking each other in the proverbial neck at the same time, aren’t you? Maybe thats a skill you should work on monetizing.
AEG Live, Ticketmaster, Cablevision Deal In The Works [Billboard]
BIG, BIG thumbs down! More fees dumped on the heads of the consumer, but I guess since no one buys cds anymore they are trying to recoup that revenue somewhere.
Off-topic, but I just love that generated ticket every time I see it on an Idolator post.
This is unfortunate, indeed. However the brightside, IMHO, seems to be that as these conglomerates get together to create what will ultimately known as “The Music Company”, more and more artists (especially younger ones) will be turned off by the “Boys Club” mentality and really break out into more independent ventures.
Madonna and the Rolling Stones can only tour for so long, you know. Long-term strategy-wise, what artists 10 yrs from know will be able to command the types of high ticket prices needed to sustain this type of overhead and marketing?! Rihanna?? She didn’t even sell out the House of Blues on Sunset last year (I’m absolutely not kidding).
@rad_matter: I was just about to comment the same thing. I think it’s time to start cosplaying STRONG ACCOMPANYING VISUAL.