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I recently started subscribing to the Lefsetz Letter. Bob Lefsetz (the author) has been publishing his thoughts for 25 years. He addresses the issues that are at the core of the music business: downloading, copy protection, pricing and the music itself. To say he is an expert is a bit of an understatement.
Anyhoo, Bob’s latest post is one that I think all owners of venues should read. In it, he talks about the perceived value of admission and tries to get you thinking about what it is, exactly, that keeps folks coming out to see shows at your place. Here’s an excerpt:
Music needs to be a good value. It hasn’t been a good value for in excess of a decade. Ever since Robert Sillerman rolled up the regional promoters into SFX. Now prices are high. It’s like sports. But music ain’t sports. And I won’t go to a baseball game on a whim anymore. Used to be $3 and you sat in the upper deck or bleachers and got fucked up and who gave a shit about the game. Now, you’re pissed if you go and the game is shitty. Because you paid a fucking fortune! But, at least the teams are classic, they don’t change. We’re trying to break acts in the music business. We can’t overcharge.
We need some innovation.
Bob has some interesting thoughts on how to increase perceived value and pack the house without giving away tickets. Check out the full post here, and if you are in the music industry, you should mos def subscribe.