Dynamic ticket pricing is just the tip of the iceberg
An ABC investigation has uncovered the impact of multinational companies like Live Nation on the Australian music industry. An RMIT expert explains how it has happened – and what should be done.
Dr Sam Whiting, music industries expert
“The Australian live music sector was previously diverse, with smaller independent promoters, ticketing companies and festivals. But in recent years we’ve seen considerable consolidation at the hands of Live Nation and other multinationals like TEG.
“Such large-scale consolidation of the Australian live music sector means that many independent artist managers, promoters and ticketing companies can’t compete. As Live Nation and TEG control multiple parts of the supply chain, from venues to ticketing companies, many artist tours are obliged to work with them if they want to operate at scale.
“With small venues and local festivals already struggling to survive, such consolidation may only increase. Without greater and sustained public support for our live music sector, local operators may look to cut their losses and sell up.
“The Australian government and the ACCC have multiple levers through which to respond to this, such as introducing greater transparency as to which costs are passed on to consumers and potentially pursuing Live Nation for monopoly-like behaviour, over which the US Department of Justice is currently suing Live Nation-Ticketmaster.
“Meanwhile, as Live Nation continues to be the sole buyer and a lack of regulation persists, their monopoly power will only grow.
“Ultimately, this leads to less choice for artists and consumers and less control over the sector by industry stakeholders who may be more genuinely invested in the long-term sustainability and growth of the Australian music industries.”
Dr Sam Whiting is a Senior Research Fellow at RMIT University focusing on the cultural economy.
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