Variety reports that Live Nation Inc, the nations largest live event and venue management company, is reporting a net loss of $18.4 million, citing lower revenue due to fewer big-ticket artists staged tours.
Is this a bad thing? Personally, I think as we were reporting earlier on the lack of teens buying CDs, the only way these companies are going to post profit is by turning to live shows. How do you make the most of a live show? Hold it in a huge venue, and charge upwards of 50 bucks a head. Is this a good experience for the consumer? Hell no. If I want to watch a performer on a giant TV, I’ll buy a DVD stay at home and sit real close to mine (I don’t have a giant TV).
I’m no business analyst, but when companies like this start doing poorly, its a reflection of our economy, mixed in with bad choices made by the company. Maybe the consumer is just tired of these “big-ticket” shows, and paying fees on top of the ticket when buying it through Ticketmaster.
Live Nation is on a better track then the RIAA and the big record companies, because, there is money in live performance, but, with the dollar falling, people perhaps are weary to spend top dollar for first row Christina Aguilera tickets. Hannah Montana tickets? Well, now we’re talking.