Alan Krueger investigates the economics of the rock industry. Some findings that jump out:
The top 5% of bands take in 84% of concert ticket revenue, up from 62% 25 years ago
The four biggest music promoters (Universal, Sony BMG, Warner, EMI) handle over 90% of the within-market revenue!
The number of concert tickets being sold appears stable or decreasing whereas revenue from ticket sales is increasing substantially: Concert tickets are rapidly becoming very expensive!
The real price of home audio equipment has more than halved in the last 25 years
The return to increasing one standard deviation in "star quality" has increased significantly over the last 25 years, partially explaining the recent clammering for stardom (anyone see the BB9 auditions,,,shiver!)
Krueger presentation
2 comments:
Thats a very interesting paper by Krueger alright. I posted recently on the blog about an article in the Observer that described how investing in tickets to see major bands is more lucrative than buying shares in the publicly listed companies. Tixdaq, a research company that monitors the 'secondary ticketing' market, has set up an index tracking the 100 best-selling tickets for sale on eBay. The avearge value of resold tickets (over the last three months) was 117 percent more than their face value. Over the same period, the FTSE 100 rose by just 6 percent.
http://gearybehaviourcenter.blogspot.com/2008/05/are-ya-buying-or-selling-tickets.html
The eend of the url is:
are-ya-buying-or-selling-tickets.html
Or just enter "concert" in the blog search bar...
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