Harvard Case - Born in the U.S.A... and Priced by Ticketmaster: Bruce Springsteen and The E-Street Band 2023 Tour
"Born in the U.S.A... and Priced by Ticketmaster: Bruce Springsteen and The E-Street Band 2023 Tour" Harvard business case study is written by Mihalis G. Markakis, Fede Sabria. It deals with the challenges in the field of Strategy. The case study is 8 page(s) long and it was first published on : Jan 15, 2023
At Fern Fort University, we recommend that Bruce Springsteen and The E-Street Band adopt a multi-pronged strategy to address the challenges posed by Ticketmaster's dominance and the evolving landscape of the music industry. This strategy involves a combination of digital transformation, strategic partnerships, and fan engagement to create a more direct and equitable relationship with their audience, while simultaneously mitigating the negative impact of Ticketmaster's practices.
2. Background
This case study examines the contentious situation surrounding Bruce Springsteen and The E-Street Band's 2023 tour, highlighting the challenges artists face in navigating the complex and often exploitative world of ticket sales dominated by Ticketmaster. The case study focuses on the frustration of fans who were subjected to exorbitant prices and limited availability due to Ticketmaster's control over the ticketing market.
The main protagonists are Bruce Springsteen, a legendary musician with a devoted fanbase, and Ticketmaster, a powerful corporation that holds a near-monopoly on the ticketing industry. The case study explores the power dynamics between artists and ticketing companies, and the impact of these dynamics on fans.
3. Analysis of the Case Study
To analyze the situation, we can utilize the following frameworks:
a) Porter's Five Forces:
- Threat of New Entrants: The ticketing industry has high barriers to entry due to the significant capital investment required and the existing dominance of Ticketmaster.
- Bargaining Power of Buyers: Fans have limited bargaining power as they are dependent on Ticketmaster for access to events.
- Bargaining Power of Suppliers: Artists have limited bargaining power due to Ticketmaster's control over ticket distribution.
- Threat of Substitutes: There are limited viable substitutes for Ticketmaster, although alternative platforms are emerging.
- Competitive Rivalry: The industry is characterized by intense rivalry between Ticketmaster and smaller competitors.
b) SWOT Analysis:
- Strengths: Bruce Springsteen and The E-Street Band possess a strong brand reputation, a loyal fanbase, and a proven track record of successful tours.
- Weaknesses: The band's reliance on Ticketmaster for ticket distribution exposes them to the company's pricing practices and limited availability.
- Opportunities: The band can leverage digital platforms to create direct connections with fans, explore alternative ticketing solutions, and engage in strategic partnerships.
- Threats: The dominance of Ticketmaster, the emergence of new competitors, and the evolving preferences of music consumers pose significant threats.
c) Value Chain Analysis:
The case study highlights the critical role of ticketing in the value chain of the music industry. Ticketmaster's control over this crucial link allows them to extract significant value from artists and fans.
d) Business Model Innovation:
The case study prompts a need for business model innovation in the music industry. Artists need to explore new ways to engage with fans directly, bypassing the limitations imposed by traditional ticketing models.
4. Recommendations
To address the challenges presented by Ticketmaster's dominance, Bruce Springsteen and The E-Street Band should implement the following recommendations:
a) Digital Transformation:
- Direct-to-Fan Platform: Develop a dedicated platform for ticket sales, merchandise, and fan engagement. This platform would allow the band to control pricing, distribution, and fan experience.
- Data Analytics: Utilize data analytics to understand fan preferences, optimize pricing strategies, and personalize fan experiences.
- Social Media Engagement: Leverage social media platforms to build direct relationships with fans, announce tour dates, and provide exclusive content.
b) Strategic Partnerships:
- Alternative Ticketing Solutions: Explore partnerships with emerging ticketing platforms that offer more transparent and fan-friendly pricing models.
- Fan Clubs: Strengthen existing fan clubs and create new ones to provide exclusive benefits and access to tickets.
- Co-operative Ventures: Collaborate with other artists to create a collective bargaining power against Ticketmaster and advocate for fairer practices.
c) Fan Engagement:
- Fan-First Approach: Implement a fan-first approach to ticketing, prioritizing fair pricing and equitable access.
- Transparency and Communication: Be transparent with fans about pricing strategies and provide clear communication channels for feedback.
- Rewards and Incentives: Offer rewards and incentives to loyal fans, such as exclusive merchandise, meet-and-greets, and early access to tickets.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations align with the band's core competencies in music performance and fan engagement, and their mission to connect with audiences authentically.
- External Customers and Internal Clients: The recommendations prioritize the needs of fans, while also addressing the concerns of the band members and their team.
- Competitors: The recommendations acknowledge the competitive landscape and aim to create a sustainable advantage by differentiating the band's approach to ticketing.
- Attractiveness: The recommendations are expected to increase fan satisfaction, improve revenue streams, and enhance the band's brand image.
6. Conclusion
By embracing digital transformation, forging strategic partnerships, and prioritizing fan engagement, Bruce Springsteen and The E-Street Band can challenge the dominance of Ticketmaster and create a more equitable and sustainable model for the music industry. This approach will not only benefit the band but also empower other artists and fans to demand fairer practices in the ticketing market.
7. Discussion
Alternative options not selected include:
- Boycotting Ticketmaster: While this option could send a strong message, it could also limit the band's reach and potentially alienate fans.
- Legal Action: Pursuing legal action against Ticketmaster could be costly and time-consuming, with uncertain outcomes.
The recommendations are subject to the following risks:
- Fan Resistance: Some fans may be reluctant to adopt new ticketing platforms or engage with the band directly.
- Technological Challenges: Implementing new digital platforms and data analytics systems can be complex and require significant investment.
- Competitive Response: Ticketmaster may retaliate against the band by limiting their access to venues or implementing countermeasures.
8. Next Steps
To implement these recommendations, the band should:
- Form a task force: Assemble a team of experts in digital marketing, ticketing, and fan engagement to develop and execute the strategy.
- Pilot test new platforms: Launch a pilot test of the direct-to-fan platform with a limited number of fans to gather feedback and refine the system.
- Engage with fans: Communicate with fans transparently about the changes and solicit their feedback.
- Monitor progress: Track the impact of the new strategy on ticket sales, fan engagement, and brand image.
By taking these steps, Bruce Springsteen and The E-Street Band can navigate the challenges of the modern music industry and create a more equitable and sustainable future for themselves and their fans.
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Case Description
Bruce Springsteen and his E-Street Band were preparing for their long-awaited 2023 Tour in the US and Europe, when tickets for the concerts went on sale in the summer of 2022 through Ticketmaster. As demand for tickets was expected to exceed supply, the artist and his manager decided to allocate part of these tickets to Ticketmaster's Official Platinum Seats program, which meant that they would be priced dynamically, similarly to the standard practice in airlines and hotels, with the intention of reaching a "fair" market value. The result was that those seats ended up being priced very highly - some, at several thousand dollars - which caused a public backlash against Springsteen, once viewed by many of his fans as a working-class hero. Could the artist and his manager have handled the situation in a better way? Did the exclusive distribution of tickets via Ticketmaster, a near-monopoly in the US market, exacerbate the situation?
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