Let’s simply say that it was good to be a live performance promoter in the summertime of 2022, because the ticket behemoth Stay Nation launched their Q3 reporting yesterday, which mirrored document attendance—and hovering income—for the agency that so typically finds itself within the crossfires of followers and lawmakers alike.
Although, in an fascinating twist, and maybe seeming to sense a number of the warmth, Stay Nation particularly addressed state and federal efforts to extend transparency within the ticket-purchasing course of, particularly because it pertains to the so-called “hidden” charges and repair prices. Of their reporting, Stay Nation wrote the next:
“Lastly on Ticketmaster, a degree on some current press relating to ticketing charges. We’ll proceed to advocate for charge transparency in stay occasion ticketing. We advocated for the all-in pricing mandate handed in New York earlier this yr, which requires face-value costs and costs to be proven upfront – and we assist the FTC mandating this nationally. We function ticketing marketplaces in additional than 30 international locations all over the world and have seen all-in pricing adopted efficiently in lots of international locations when mandated throughout the board. This solely works if all ticketing marketplaces undertake collectively, so that customers actually can precisely examine as they store for tickets.”
So, primarily, should you learn behind the strains—Stay Nation would not see themselves as the issue. They view themselves as one entity attempting to function affirmatively in a market crammed with dangerous practices. And whereas, as a enterprise observe, I can perceive that argument, I am not essentially positive that is going to fly very far for John Q. Public—particularly after they discover out the agency’s reported income for the third quarter—a really cool $6 billion—which is up 63% from 2019.
If you want, you’ll be able to learn the complete overview of Stay Nation’s third-quarter outcomes right here.
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