Thursday, August 13, 2009
Blog: August 13, 2009
I recently got into a conversation with a local impresario. It seems there are more n’ more shows in the market every year. As we have seen in the housing, electrical, airline and energy industries, when supply dramatically exceeds demand there is a retrenchment. In this example, between the free shows and the possibly over-abundance of quality line-up shows – there simply isn’t sufficient audience to support all these shows. On first blush this is hardly a negative; when was the last time someone had the gall to complain that there was too much going on in Omaha? So we have it pretty good right now; as the Horseshoe Casino realized by literally having to give away concert tickets to see the recent ARC Angels show. So tune your fiddle Nero as amid a recessionary decline there is less and less ticket buying capacity up against more and more shows.
Interestingly, since CD’s sales have fallen more than 50% in the past five years, the Wall Street Journal recently discussed how CD’s are being used to drive concert ticket sales as artist derive income from performance now rather than album sales. So where does the “equilibrium point” between ticket demand and artist availability meet? The market will determine. I know this; my days of paying $75 or more for concert tickets is over. And if very many others feel as I do; that either than cannot afford high priced tickets or they simply see their home, vacation or IRA as a better investment, artists are going to be getting crunched from both sides.
Think about that; CD sales are nearly inconsequential and a recessionary period coupled with too many concerts will likely drive ticket prices down. Seemingly one can draw the impression that contemporary society is reducing the value of music across numerous fronts.
Is it fair to say that Bono was the last rock star?
While I still place a premium on recorded music, I find the thuggery of modern sports to be beyond the pale. As a society we are paying virtually uneducated brawlers millions to throw a ball across the plate while we ask the educators of the next generation of American’s to use their comparatively meager incomes to buy supplies that our education system can no longer afford to purchase.
Where does the source of this problem lie?
With you of course - And with me. As a society we get what we pay for. In America today we vote with our dollars and more of us are voting for ‘Tiger Woods’ and ‘A Rod’ than that gal in the classroom teaching our kids. Damn shame it is too. It seems to me we are voting less and less for the ‘Eric Clapton’s’ of the world but still dramatically over-paying for the ‘Bob Stoops’ of the world. So before you bitch, look in the mirror – there lies the problem.