Much has been made over the last few years of the declining value of the album and song, what with 99 cent downloads and $2.99 digital albums on Amazon.com. But maybe it's time to start talking about the rapidly declining cost of the concert ticket. Days after Live Nation executives confessed that concert ticket prices are too high, the company continued to ramp up its low-priced ticket promotions.
So, the good news: Fans of the Jonas Brothers and Wolf Parade, and dozens of other acts, can snare $10 tickets to upcoming Southern California shows for one day only -- Tuesday. The bad news: If you've already paid, say, $57.98 for two Wolf Parade tickets for July 31 at the Wiltern, you're out of luck. The Live Nation fire-sale discount is even greater for the Jonas Brothers, where two of the cheapest seats to the act's Sept. 19 Irvine date would normally cost $99.70.
Perhaps its not surprising to see a tribute to Journey given the $10 treatment ($9.99 too high, if Pop & Hiss were asked, which it wasn't), but also included in the promo is Ozzfest's Aug. 14 gig in Devore, where the two cheapest tickets would normally run a fan $79.
One needn't look much further than Live Nation's own presentation to Wall Street last week to get some insight into the motivation behind such promotions. With the concert biz facing a slow summer, Live Nation has noted that North American concert attendance is down 3%, and sales at its Ticketmaster division are trending down 11%. When all is said and done, the company projected that 2010 sales for the top 100 touring acts could be down more than 15%.
A bright spot for the company has been its "no service fee" sales. The company noted that previous one-day discounts to $10 fueled a 7,000% increase in daily sales. The fine print states that $10 will be available only while "supplies last" during a 24-hour period beginning July 20.
The bigger question, however, is whether the frequency of such promotions will permanently change consumer buying habits, forcing fans to wait to the last minute and forever question the cost of tickets.
A full list of Live Nation's $10 promotions is available after the jump.