Michael Coppel has fronted the music inquiry in Canberra and offered a rare insight into one of the promoter and ticketing giant’s most controversial practices.
Michael Coppel, chairman and 20 per cent owner of Live Nation Australia, has offered a rare glimpse into the controversial practice of dynamic ticket pricing, while defending the company against “misguided statements” in recent “adverse media coverage”.
“There is a very substantial outside industry that ... uses bots and other illicit means to acquire tickets to in-demand performances and sell them at a very inflated markup. And none of that money comes back into the industry. There’s no investment, there’s no risk taking, there’s purely arbitrage.”
“We speak to the artist before every tour and say, ‘We think this will be a high-demand performance. Do you want to consider setting aside a percentage of the house at a higher price that we can release if the demand turns out to be there, but that will capture some of the value that will otherwise go to scalpers?’“And the artists will say, ‘OK, we’ll do 10 per cent of the house, or 5 per cent of the house, or X thousand tickets’.
Live Nation Australia has been in the spotlight for a couple of years, as Australia’s live music sector has struggled in the wake of the COVID pandemic, cost-of-living crises and after two of the major music festivals it owns, Falls and Splendour in the Grass, were cancelled. Areport recently accused the company of charging consumers hidden fees, “robbing” artists and “misusing” its market power.
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