A good bud of mine recently blogged I am Officially Getting Old…, when deciding whether to fork out A$110 to see Ice Cube at a club show (you read that right) in Melbourne or do other stuff with the cash, like:
imagine the dinner I could have at a lovely Italian restaurant with my wife & son for $110, or I could buy 3 cubic meters of good soil for my veggie garden for less than $110!!!
He also added:
it’s a week night, so I will be tired the next day for work
Notwithstanding my friend pondering his appreciating chronological state of being, what does this say about the business of music?
It is little wonder the industry is in such a parlous state when a club show for an artist such as Ice Cube costs $110. As legendary as Ice Cube is, and having worked in the biz for more than a decade, I understand why it would cost that much. But I also know that only hard core fans will pay that much to see a live show. It’s not a great growth strategy.
Industry king maker Irving Azoff recently tweeted:
@irvingazoff so if you want ticket prices to go down stop stealing music.
Hard to argue with the logic if a record company remains the pinnacle investor in the industry. Perhaps that’s the problem. The industry needs not just a new investment paradigm but also a new investment vehicle.