Ticketmaster expects concert prices to fall

Ticketmaster Entertainment, the world’s largest ticketing company, expects the recession to reduce prices for live entertainment in 2009, chief executive officer Sean Moriarty said.

“You would expect there to be some adjustment of pricing for an economy where people have less money in their pocket,” Moriarty said in an interview.

The slowdown comes as Ticketmaster begins to compete with Live Nation Inc., once its largest customer.

Live Nation, which stages more than 16,000 concerts a year and has exclusive deals with Madonna and U2, has begun using its own ticket system. The promoter accounted for 17 per cent of Ticketmaster’s 2007 sales.

From an article by The Edmonton Journal.