FMF / The Ticketing Paradox
Mark Meharry, CEO & Founder of Music Glue
Over the last decade the live side of the music industry has grown from an ancillary income to the primary income stream for most artists. At the same time artists have developed direct marketing skills via social media and mailing lists, and for the first time have greater market reach than all other retail services combined. Yet, the percentage of ticket inventory an artist is allowed to sell direct is still being limited to single digits. Furthermore, live event companies are openly stating that their future growth is linked specifically to secondary ticketing, which has now evolved into industry scale ‘ticket touting’, ripping off fans and artists alike. It is estimated, in 2015 secondary ticketing services made over $6B (3 times the total made by all music subscription services combined) yet the global music press barely mentions it. Mark Meharry, the founder and CEO of Music Glue, explores this paradox and discusses some potential solutions to the problem.