Bands often scalp tickets, says Nine Inch Nails’ Reznor

Purest FeelingPerformers often scalp tickets to their own performances, using TicketsNow.com and StubHub.com as outlets, says Nine Inch Nails founder Trent Reznor in a blog posting.

With the face value of tickets for the best seats so much less than what high rollers and avid fans are willing to pay, performers have to choose between letting scalpers reap the profits of their work or cashing in themselves, said industrial rocker Reznor in a blog posting on Sunday.

"The venue, the promoter, the ticketing agency and often the artist camp (artist, management and agent) take tickets from the pool of available seats and feed them directly to the re-seller," wrote Reznor, who has a long history of battling the music industry.

"I am not saying every one of the above entities all do this, nor am I saying they do it for all shows but this is a very common practice," wrote Reznor. "StubHub.com is an example of a re-seller/scalper. So is TicketsNow.com."

Reselling may disappear and the face value of tickets go up if U.S. Justice Department antitrust officials allow the planned merger of Ticketmaster and Live Nation Inc, Reznor predicted.

See the full article at Yahoo News.

Promoters wary of Live Nation/Ticketmaster merger

Live Nation Inc’s rivals in the rock concert business worry that its planned merger with Ticketmaster Entertainment Inc would mean they would lose control over business secrets — an issue that could complicate chances of antitrust approval.

These complaints by Live Nation’s competitors add to the woes piling up on the proposed merger. There are also calls for a federal investigation into Ticketmaster’s relationship with subsidiary TicketsNow because of incidents where fans were told by Ticketmaster that concerts were sold out but then were offered tickets on its subsidiary — for considerably more money.

The Senate Judiciary Committee’s antitrust subcommittee will hold hearings on the merger next Tuesday.

The latest concern is that the shrinking number of independent promoters, many of which use Ticketmaster for selling seats, fear that the company’s deal with the world’s biggest promoting company, Live Nation, would hurt the independents.

See the full article at Yahoo! News.

Live Nation to buy Ticketmaster

The world’s largest concert promoter Live Nation Inc plans to buy Ticketmaster Entertainment Inc for about $400 million in stock in a bid to create a company with dominant holdings in concert promotion and ticket sales.

But shares of both companies fell on Tuesday, amid concerns the acquisition would be blocked by U.S. antitrust regulators under the new Obama administration.

U.S. Senator Charles Schumer slammed the deal ahead of its formal announcement on Tuesday, calling for a federal probe into Ticketmaster, the top U.S. ticket vendor.

"This merger would give a giant, new entity unrivaled power over concert-goers and the prices they pay to see their favorite artists and bands," the Democrat senator from New York said in a statement.

See the full article at Yahoo! News.