'Lawrence' band leader speaks out about fees at Ticketmaster hearing

#youtubeshorts #yahoofinance #lawrence #ticketmaster
Clyde Lawrence, band leader of 'Lawrence,' spoke at the Ticketmaster hearing on Capitol Hill about the band's experience with Live Nation.
Don't Miss: Valley of Hype: The culture that built Elizabeth Holmes
WATCH HERE:
• Elizabeth Holmes: 'Val...
Subscribe to Yahoo Finance: yhoo.it/2fGu5Bb
About Yahoo Finance:
At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.
Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more.
To learn more about Yahoo Finance Plus please visit: yhoo.it/33jXYBp
Connect with Yahoo Finance:
Get the latest news: yhoo.it/2fGu5Bb
Find Yahoo Finance on Facebook: bit.ly/2A9u5Zq
Follow Yahoo Finance on Twitter: bit.ly/2LMgloP
Follow Yahoo Finance on Instagram: bit.ly/2LOpNYz
Follow Yahoo Finance Premium on Twitter: bit.ly/3hhcnmV

[@sergiomartinez5946]

So basically he is saying... Are you kidding me? I'm getting sick of the industry I've had enough of the make believe Oh please, oh please Am I lost or found? I'm getting sick of the ups and downs No need to give me the run around I'm out, I'm out

[@crispitysmuggity]

this made me giggle

[@AngeloWallace-s5f]

That was good man only fans of Lawrence will get this

[@diogoaassis]

That was legit

[@gk-zb1jr]

He’s standing up for himself and ain't losing sight

[@Sam-km7gm]

This is hilarious

[@mikecoleman6703]

Props to Clyde, very well articulated.

[@SeanGilbertson]

This was laid out so clearly and so well. Artists are getting fleeced, and they’re the only ones providing actual value. People would pay to watch Lawrence in an open field.

[@hazeleyedsoul3282]

At the rate its going, they might as well considering it would be a helluva lot more profitable to do so.

[@micahandjessi]

That ☝️☝️☝️ sounds like a great freakin idea

[@brianjaffe8747]

This shit's gonna kill me but I won't let it... Go Clyde!

[@LucasBlaney]

All involved should have their costs covered before any profits are considered. Lawrence is amazing and mad respect to them for taking this stand*.

[@subliminalvibrations7976]

Go Clyde.

[@shoejl]

This is why I didn’t buy anything at the concert venue. I’ll buy merch from website! Want to support y’all!

[@tonygee19641]

Me too, just got my Lawrence jersey 👍🏽

[@GuitarFuYou]

Let me preface by saying it’s total BS that they have to pay a 20% fee on their merch sales to the venue/booking. But every artist I’ve spoken too tells me that on tour, merch sales keeps them going. So I try to buy something at the concert… perhaps this is wrong?

[@TES-541]

@@GuitarFuYou I think they mean that thinking many people only buy sales at a show. They would never think of buying it online but in the moment it’s like a momento. But if they could choose between you buying at a show vs online, the artist I’m sure would choose online unless there’s some hidden factor I’m unaware of. Whatever gives the band the most money.

[@tlynnknight]

We, the ticket buyers, need to stand with artists! How can we help???

[@friedemannkemm63]

There is a simple answer: As a monopolist, they have the power. I just recently learned that the American market is held captive by monopolists. (That is the difference between an unregulated and a free market.) Our German press just reported that Taylor Swift's European concerts are overrun by her American fans. For the price of an American ticket they get a European ticket plus a nice visit to a major European cuty.

[@bluehunt3436]

@@friedemannkemm63 this is true! A coworker of mine who’s a big Taylor Swift fan just took work off to leave Florida, USA in order to fly to Europe and see Taylor Swift perform in Vienna!

[@trainwreckfilms]

Clyde speak the truth brotha!

[@nathanwilson3507]

six dollars actual profit off a $42 ticket is laughable. what a joke this country is

[@jaybeeme]

It’s all wild, but they take a % of merch sales too?

[@kpotter50]

I also am here like..wait..what?

[@outlanderfrog]

Yep. The split is different band to bend, though.

[@yeh2756]

Lawrence, the guys you need in your life even if you dont know it yet

[@kpotter50]

Yes. This, thank you for yourselves and your fans.

[@LookUp.inofficial]

Thank you Lawrence for saying and asking for the truth🎉❤

[@tradezing]

Yesss go off 🙌

[@sweetdeereynolds4098]

Well said Clyde!!! Something has to be done!!!

[@miss11monae]

Say it louder for the ppl in the back!!!

[@theonlyalexoliveira]

As somebody who’s worked in the concert business for 20+ years, I will tell you there’s not something you’re not understanding, it’s just a straight up scam

[@rainkloud]

Never heard of the band but well spoken!

[@samcoding]

Have a listen, they're great

[@Deeliciousone]

Look em up, you won't regret it!

[@kaijuno]

Well said. I hope things change for the better.

[@ennuinewyork6598]

Well said

[@nfamusRyno]

Clyde nailed it..I'm getting sick of the Industry, oh please..oh please...this * gonna kill me but I won't let it🎶

[@spicyboyzshow]

Go off, Clyde!!! 👏👏🔥

[@isaacwdunn7768]

keep fighting bro🙌🏻

[@KeithaBird]

Hell YESSSSS CLYDE ❤❤❤❤

[@Dyrnwynn]

I hope someone listens to the truth he's telling, but I'm not holding my breath. Eddie Vedder went before Congress in the 90s and tried to get them to do something about Ticketmaster. It's only gotten worse since then.

[@gshak33]

That’s insane. Sounds like Ticketmaster is using mafia shakedown tactics

[@marisa_moon_]

Things MUST change and they will. Thanks to people like you for speaking out and asking for change, companies will be forced to innovate or they’ll be starved out by more ethical competitors that arise

[@mblehar]

Remember in the 90s when Pearl Jam was going head to head with Ticketmaster over this bullshit? Only thing that's changed in the last 30 years are the fees go up. The artists and the fans are still being screwed.

[@kennanlukacs]

Go Clyde!

[@maurawhelan3530]

It is sick. I’d tour places they don’t control…if that’s possible.

[@marchingham]

He sounds so much like Jonah Hill. Such a great band.

[@marcroth2844]

They get 12 of a 40$ ticket. Should be the other way round!

[@SuperHornet1981]

Mr. Clyde, now you can understand the sentiment of a song from Queen’s album named Night At The Opera Side 1, Song one “Death On Two Legs” This song was more about management, studios, and record companies, but in the before the internet, concerts were used to promote album sales. Now released music is used to promote concerts, from which comes most of the money. I have heard that bloodsuckers had something to do with why there were so many years between albums released by the rock band Boston.

[@bradoliver9324]

Incredibly straight ahead. It's simple math, so why doesn't it add up LiveNation? Ticketmaster?

[@Syjoon2001]

absolutely right, this problem is everywhere, look at the Airbnb fees, for example, it's ridiculous.

[@AvantiMusicNJ]

Sell out 1500 person venue, make 9000 dollars after expenses. That’s absurd. With the advent of streaming touring was really the only way musicians could make an income but it looks like that’s out the door too.

[@davidtaylor111]

Well I happen to be a talent buyer and concert producer in the music industry and I can tell you what he is saying isn't really factual. The bands are offered a guarantee, in this case let's say he is guaranteed $30,000, the promoter text all of the risk because many shows don't sell enough tickets to pay for the guarantee which is why they don't offer any of the ancillaries or the facility fees because those help fun to show that is losing money. I am doing a show in New York next week that will lose approximately $50,000 and the act is not offering any money back, so if he doesn't like is guarantee then perhaps he should talk to his agent to try and get them more money, but if they aren't selling enough tickets to cover that guarantee then no one's going to book them in the future for what they are making right now. Their tour is doing very well so they will get a raise on their next tour. When he talks about making $6 on a show that's for acts that are basically playing small bars and paying their dues. If he's making $30,000 a night with his band then he's paying out $6,000 to the booking agent and his manager and then roughly another $5,000 in labor cost for tour manager and bus and so on.. Supreme tax his band is making about 18 to 20,000 a night and that's guaranteed whether or not he sells one ticket or 2000

[@thunderbirdice]

You are absolutely right but why is your ticket only $42. I’ve never paid an artist such cheap tickets and you deserve more

[@Pochonesian]

At this point doing your own festivals is key. If they won’t sufficiently take care of the talent, then you should become their competitor. The fans are on your side. Buy land. Do everything yourself. Before long they will reach out to you and you’ll have the leverage and power to negotiate. Demand yours first.

[@tsak912]

Running a fully staffed, safe event for 20k+ people is expensive. That’s why.

[@nathanwilson3507]

why is it that livenatuon’s profit points get recouped yet ours dont? because capitalism takes whatever it can convince people to give up

[@nathanwilson3507]

transparency? no no baby, that doesnt work in the corporation’s favor so there is zero transparency

[@ScottBarthelemy]

Wow, they're taking money on YOUR merch x'D And don't give a cent of all the revenues they get thanks to you x'D At this point, it's not even a theft. You're just being abused

[@chrisandjenniferkaufmann8197]

Yeah, went to buy 2 $45 dollar tickets to see Jungle….total at checkout 125+ with NO breakdown on what the addition fees go toward. What a sham.

[@jazzycrescendo9465]

I'm tired of all the big wigs 'Cause they all got it made Do I need to go and testify Just to get myself some pay -Promotion, Lawrence the Band

[@bluehunt3436]

Damn Clyde go off bro. That’s criminal and unfair, I’m so sorry you talented and good folk need to navigate such bs :(

[@vaughnhollund5316]

I'm a musician and Clyde just proved we need more jewish musicians :)

[@domesticengineerlifecoach6938]

LN needs to be removed from existence! They are destroying the concert industry.

[@Steelosick]

They need to fix the music industry all the way around.

[@paulhefner5120]

👏👏👏👏👏👏👏

[@tomiwaaina5499]

And this is why merch is so fucking expensive lol

[@johnventura1637]

Bravo Clyde. Hopefully you can make a difference.

[@tjppercussion]

"Do I have to go and testify just to get myself some pay?" - Clyde

[@birdup6684]

JEFF SAID THAT YOUU SAID THAT JEFF SAID THAT YOUUUU SAID THAT YEAHH

[@BrianShh]

its because they are a monopoly... monopoly is the answer

[@sevyreyna3623]

TELL'EM!!!

[@lannyfromcanada3485]

Get them Clyde!!!

[@dscmex]

Go Pearl Jam, there's no other way around.

[@vtonyvicente102]

Why does he sound exactly like Jonah Hill

[@chrisc8865]

Newark Nation have anything to do with Daddy.

[@beautiful-kingdom]

Don’t get into biz w greedy crooks.

[@Z4Nmax]

Letsgo Clyde ! ✊brillantly explained

[@buddha4242]

Monopolies are bad mmmkay

[@VocalEdgeTV]

And were there answers?

[@chrisfoye1574]

👏 👏 👏

[@davidwilliama.7296]

I didn't recognize him for a while until I read the comments. I didn't read the caption at the bottom at first. He looks so differerent in this. I'm used to seeing him with a hat and casual clothes.

[@cradicalcompassion]

Strsight up

[@cannonflacko6214]

Amazing questions

[@TexasGovernor]

Preach brother

[@william.darrigo]

It's about time

[@FitKat4U]

So articulate - perfectly explained… Yet it’s still so very wrong. As an independent contractor, Fitness instructor, I can relate. And I am riled UP for you, and all of the other Fabulous musicians out there.

[@jonleslie9761]

Well said Clyde!

[@Artz22]

Preach!

[@dannyfaith7]

My boy Clyde wicked smaht!

[@chedda7907]

🐐

[@katharinewhits]

👏🏼

[@aridabaginindabag9970]

GO OFF CLYDE

[@tonyr.4778]

FLN.

[@TommyBoyHustle]

👏👏👏

[@mrokesene]

$12 to the people who went to music school. $30 to the people who went to business school. Yeah that makes sense

[@sethgilbert1086]

If you don’t like working with them, don’t.

[@standindarkness]

Don't use their services...simple

[@Alex-lp6bg]

Web3 will be the end of Ticketmaster

[@cameronhampton1315]

@@Alex-lp6bg don’t know what that mean but I hope so!

[@fsteddy6576]

BS man. Stop using ticketmaster. Sell the tickets at the door on the night of the show, first come first served. Sell tickets to 2nd show to the people that don't get in on first night.

[@chrisjohnsondoesstuff4597]

That doesn’t work because ticket master has exclusivity to many large venues in the US

[@fsteddy6576]

@@chrisjohnsondoesstuff4597 I heard about that, I believe they own some also. But they can't have ALL the venues locked up there must be some available. It wouldn't take long nor much organization for the bigger acts to shut down the monopoly. I wouldn't expect a band like Lawrence to take on the battle, but smaller draws can be more flexible with the venues they choose.

[@1travisvideo]

they control at least 70% of the major venues. The only way it would work is if the PEOPLE stopped buying the tickets in protest, but that won't happen because people would rather support ticketmaster than not go to a concert.@@fsteddy6576

[@Sushi_Overdose]

In France we can sometimes avoid them by paying directly with the room, but it's rare. For example, Hiatus Kaiyote will perform in Paris @ Salle Pleyel in October. It was possible to buy the tickets with the room's website before the tickets went on sale with TM. Still, I don't know if the room is not giving them money with that process. I remember that in the late 90's, when a band was touring, they were making good money with the tickets sale and everything was way more cheaper.

[@SpektrikMusic]

@@fsteddy6576 that's the problem, they are almost a monopoly and no one has done anything about it. They either own or partner with a vast majority of the venues around the world, smaller venues struggle to compete with that scale.

[@mrokesene]

Ummm because instead of going to music school they went to business school. That’s why you’re playing the music that their business sells.

[@Cjcastres]

And … that’s ok??

[@sean-in-wnc]

Makes sense. Starve the source of your product. Business 101. 🙄 Labels, and ESPECIALLY performance sales organizations like Ticketmasker, should remember that they are the ones who are dispensable in the equation. It would seem that they may be aware of this, considering the way they're clutching their pearls over the idea of ang regulation being imposed on them. But they're certainly not making the smart move, which would be cooperating with regulation discussions and trying to make sure the artists are kept happy... But of course they wouldn't do that, because it would decrease their profit margins, and America won't stand for that because we need our rich getting richer and the middle class to fully dissolve into memory. But at the end of the day, musicians can keep playing (and often make MORE money touring) without labels and music-adjacent scam artists... Ahem... Sorry, "businesses" (which are often completely unnecessary operations posing as "convenience services," the current iterations of which are neither convenient nor properly servicing either the artists or the fans). The same is not true the other way around: without the product to sell, they have no business to operate. They're glorified promoters, who weaseled their way into profitability by becoming planned monopolies and utilizing buy-out practices which have been consistently found to be in violation of labor and business practice standards in other industries, and which are supposed to be illegal for a reason. Ticketmaster could shut down tomorrow and it would have a pretty insubstantial effect on the majority of the industry long-term. If the artists all went on strike, however, their entire infrastructure would collapse, and thousands and thousands of self-important MBAs would be flooding the job market. Sounds like healthy and stable market conditions to me... 🤦🏼

[@isaiahnichols3597]

@@mrokesene OK goofball💀

[@chrisfoye1574]

🎉

[@DDA69ERS]

Ticketmaster and the like are all disgusting corporations that really have not right or need to exist. Artist and the actual venues should be able to seek there tickets directly to the audience these are the only three parties needed for that transaction. Hopefully they are bankrupted soon. There ceos should be investigated for fraud as well.