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From the UK: The Concert and Music Industry is Changing With Virtual Concerts

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I was speaking to a friend of mine the other day and the topic that came up was going to concerts and music shows.

My friend recently bought tickets to a couple of shows and the ticket prices were very reasonable.  One show was around £25 and one was around £20, which in today’s ticket pricing world, is cheap.

A new band that is touring here soon and is touring in the states now, has caught my eye, so I looked at how much tickets were.  The band members are all superstars in their own right, so they are forming a new “super group”.

The pricing for the tickets was tiered into different categories, and to my mind was confusing.  However, one thing that was not confusing, but staggering, were the ticket prices.

These were concerts in the USA and ticket prices started at almost $100, and if you wanted a VIP ticket, they were $750 each!!

My friend and I agreed, there are people out there that will pay those prices, and we are not one of them.  We will wait for the DVD.

The music industry lost millions not seeing the digital age coming and people begin streaming their music, and also stealing it online.  So bands now need to constantly tour to make their income.  Vinyl may be making a comeback, but record sales are not where they used to be.

The statistics show that the music industry is still a huge billions and billions of $’s and £’s industry generating tons of money.  But it is also changing.

Just as artists now need to tour to earn a living as record sales have slumped, the high ticket prices may be pricing many fans out of attending a show.

shutterstock_412243102Ticket Scams – Social Media – Legal Touts

Fans lost a total of £5 million last year to ticket scams that were operated by social media.

Fans wind up buying fake tickets that are advertised on social media sites, and on average lose £444 each transaction.

Tickets for hard to buy shows, ones that sell out quickly, are usually the ones being used in the scams.

A report by the LGA/Local Government Association stated that social media sites “accounted for nearly half of all reported ploys”.

The Chairman of the LGA’s Safer and Stronger Communities Board, Simon Blackburn said, “With Euro 2016 starting next month, big-name concerts on the horizon and Glastonbury Festival already sold out, this summer is ripe for criminals to exploit desperate fans willing to do anything to get a ticket to see England play or see their favourite band.”

“Social media sites now account for nearly half of all ticket scams and they need to do more to help prevent people being conned paying for tickets on their sites.”

“People should be very wary of ticket offers for “sold out” events as these situations are exploited by criminals. Similarly, if the price seems too good to be true, it’s likely to be a scam”.

And it is not just the criminals trying to scam us, but also the secondary ticket market.

Ticket sales are big business as we know, and so is reselling tickets.

Many musical acts offer pre-sales for tickets to members of their fan clubs.  Some of these tickets end up on the secondary market with huge price tags.

You try to buy tickets to an event and find it sold out, then go to a secondary ticket seller and see hundreds and hundreds of tickets for sale, at double or triple the face value.

It would appear that many of these “legal” ticket touts are breaking the law, yet to date nothing is being done about it.

Director of Policy and Campaigns, at Which?, Alex Neil said, “It is clear that the protections put in place by the Consumer Rights Act aren’t being  followed by some of the biggest players in the market and no action is being taken against them.”

“The Government must crack down on bad practice so that people know what they’re buying and don’t get ripped off.”

And there are those people that want to see this touting to be criminalised.

Adam Tudhope, who manages many large musical acts stated, “Touting is illegal in football. Touting was made illegal when the Olympics hit the UK. The government needs to intervene and make touting a criminal offence for all music, arts, theatre and sporting events. The existing civil legislation isn’t doing the job.”

“If we had a blanket law that tickets can only be resold for their face value, plus a small handling fee along the lines that the primary ticketing services use – no more than 10% of the face value, for example – it would stop the large-scale industrial touting of tickets dead in its tracks.”

Labour MP Sharon Hodgson, who is co-chair of the all-party parliamentary group on ticket abuse, first started the “idea of a 10% cap” on reselling tickets back in 2011.

She stated,  “The public outcry to the failure to enforce the Act is clear from the many tens of thousands of people who have signed the online petition on the parliament website calling for this very fact to be addressed.”

shutterstock_356344094DVD Sales

So between the high cost of ticket prices, and a worry over being scammed or having to pay extortionate prices through the secondary market, me, my friend and many like us, will just wait for the concert DVD.

We then get the best seats in the house for a much cheaper price.

And of course many concerts and shows are streamed, some live, so you can watch them that way.

There is also youtube to watch many shows and concerts on as well.

I watch Glastonbury each year from the dry and cozy confines of my lounge, never getting mud on me, and having to deal with the throngs of people who are in attendance.  It’s just me and the Mrs’s.

So even with so many ways to watch a concert, and many for free, how is the music and concert industry going to survive??

Virtual-reality-concertVirtual Concerts

Even with all I have said and written about the cost and state of the concert industry, I still like live music and still attend a few shows a year.  So people will always want to see live acts, butzas I/we get older, large festivals and huge outdoor and even arena shows, fall out of fashion.

You pay huge ticket prices, have to get to the show, stand in some instances for hours, and the sound may or may not be good.

When I saw the Rolling Stones in Hyde Park a few years ago I stated that was my last huge concert. It was just madness.

So how can the concert industry tempt the likes of me and my friends back, virtual concerts.

Using 360 degree cameras, a person can be immersed into a festival or concert.

Youtube’s Neal Mohan stated, “Today, we’re taking immersive video even further with 360-degree live streaming on YouTube.”

A company called is looking at offering concerts, sporting events, etc for people to be able to watch as a virtual spectator.

The CEO of, Juan Santillan describes the company: is building a platform in virtual reality. We only focus on events that have an audience – sports, action, music, even corporate events. We have big plans to cover annual investors meetings. The power of virtual reality is not about the gimmicks. It’s not about looking around at a concert; it’s about being in front of your favorite artist. It’s about being in front of your CEO or favorite motivational speaker. It’s about being in places where you otherwise wouldn’t be able to go because of time, location, etc.”

There will be some expense involved as a consumer if you are required to have specific equipment, such as a headset to view the concert.  However, after this initial investment, you can be watching concerts and events for less money and headaches than if you had to scramble for tickets and drive to the event.

My friends and I will be watching this new technology closely….pun intended. 

,I was speaking to a friend of mine the other day and the topic that came up was going to concerts and music shows. My friend recently bought tickets to a couple of shows and the ticket prices were

This article by Jon Emge was syndicated by the Personal Finance Syndication Network.

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