TicketMaster and Live Nation are considering merging the companies; this would create probably one of the most expensive ways in which to buy tickets for any concert.
But that is not the astounding news. Billy Corgan, the front man for the Smashing Pumpkins who are managed by Frontline header Irving Azoff (Also the CEO of Ticketmaster and promised a head position in the new company), has actually sent a letter to Congress in support of this merger! Corgan’s Letter states;

“…The combination of these companies creates powerful tools for an independent artist to reach their fans in new and unprecedented ways, all the while restoring the power where it belongs…In short, we have a broken system. This is a new model that puts power into the hands of the artist, creating a dynamic synergy that will inspire great works and attract healthy competition. The proposed merger you have before you helps create those opportunities by boldly addressing the complexity of the existing musical and economic landscapes.”

Here’s a video from their website of Corgan’s address to congress

It’s truly unfortunate that an esteemed artist like Corgan is so out of touch with the direction of the music industry that he would support such a merger.
Ticketmaster hits consumers with outrageous prices for tickets, for example, tickets to see Feist in Vancouver in 2008 are $49.50, plus a $10 “convenience fee”, plus a $2.50 “Building Facility Charge”, plus a $4.35 “Order Processing Charge”, plus optional express postage. That’s over $16 in additional fees!

But not all artists share Corgan’s feelings, in the 1990s, Pearl Jam brought a lawsuit alleging that Ticketmaster is a monopoly, whose anticompetitive practices allow markup prices of more than 30%.
Bruce Springsteen has also spoken out against ticketmaster along with many other artists.

So how exactly will this merging of companies actually help independant artists the way Corgan claims? Unfortunately, it will likely do more harm than good, but the individuals that will be hit the worst are the music lovers who support artists.
We feel that punishing music lovers has truly gone far enough, and it is clear that they won’t put up with it any longer.
We hope that a successful alternative will arise so that artists aren’t forced to work with the monopolies that Ticketmaster and Live Nation have become.

Tags: artist, billy corgan, congress, live nation, merger, music, pearl jam, smashing pumpkins, ticketmaster, tickets

This entry was posted on Thursday, March 12th, 2009 at 2:38 pm and is filed under Artists, Music Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.