As I finish this blog, I complete the last assignment of my masters program. Now that I have completed my path in higher education, I continue to educate myself in the latest trends and technologies of my industry. I have always had a strong passion for music and live shows. There is something to be said over the quality and experience of a concert but the industry itself is on the decline. Tickets get more expensive as the economy continues to decline, which proves to be a bad business model in general.
Like all entertainment industry sectors, the concert industry looks to alternative methods to raise event awareness and ticket sales. Social media, clever viral marketing, artist involvement and radio contests are all heavily utilized. Rising ticket sales have also pushed ticket buyers away. On a personal level, I have cut my attendance to larger shows back and I have started to go to more local gigs and shows.
Live Nation continues to work toprice tickets for the consumer but they are also working to turn a profit. They have struck a partnership with Groupon to sell tickets at a discounted rate for marketing promotion. Groupon has been said to be terrible for small businesses and pricing has to be strategic. Hopefully, Groupon and Livenation have found a way to balance the discounted tickets and the benefits of the deal.
This all sounds like a bleak outlook for my career now that I have graduated, but I am confident in pursuing live music. Events like the recent I Heart Radio concert by Clear Channel, SXSW in Austin, ACL in Austin, and Warped Tour bring local talent and opportunities.
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