Live Music Needs An Update
Fans pay too much! Artists earn too little! Everyone’s experience of live music suffers!
A Perfect Storm for Change
"It's the perfect time to mix things up!"
The trend towards artist independence has never been stronger. This, combined with the emergence of exciting enabling technologies that are simpler than ever to use, means that the live music industry stands at a unique crossroads.
Live music’s raw numbers are impressive—the industry is having its heyday. But most of the $31 billion in global live music revenues does not filter down to independent artists or venues. And despite packed venues, fan sentiment is at an all-time low. This bizarre paradox presents the perfect opportunity to revolutionise the way we experience live music.
The Great Stagnation
The recent Oasis ticketing fiasco has really highlighted deep systemic problems.
We saw true fans stuck in virtual queues for hours. Huge numbers of tickets were sniped by scalpers, appearing hours later at ridiculous prices on resale sites. These over-inflated tickets were then snapped up by the genuine fans, the ones prepared to pay over the odds to see their idols. Weeks later, these tickets were then cancelled by the band as unauthorised resales. The whole situation—an utter disgrace. 🤮
Big Ticketing's grip on the industry doesn't only impact the fans of the biggest artists. Independent artists suffer the most—stuck with very few options and zero leverage. Their relationship with their growing fan base is owned by corporations.
Platforms like Dice, Songkick, and Bandsintown launched over a decade ago with a promise to transform live music. They injected great energy and hope, but the momentum has waned, and significant innovation has stalled.
Fans are tired, artists are struggling, and venues are closing.
The once electrifying live music scene feels like it's losing its spark. One of life’s true pleasures has turned to pain.
And it's not difficult to quantify that pain—because everything has gotten so f***ing gross.
Fees and Bots F*** Fans
Hidden fees inflate ticket costs by an average of 31%, and up to as much as 40%.
Dynamic pricing models like Ticketmaster's "Official Platinum Seats" result in prices up to 50 times the base face value—Bruce Springsteen's 2023 tour ticket prices surged to $5,000.
Around 40% of ticket purchases are still made by bots, despite Ticketmaster claiming to block 17 billion bot attempts globally in 2022.
Tickets appear on resale markets at prices inflated by many multiples—Taylor Swift's "Eras Tour" tickets with face values from $49 to $449 were resold for up to $20,000.
Artists Get a S*** Deal
More than 80% of artists are frustrated by lack of access to fan data, which is hoarded by ticketing companies and promoters.
The cost of touring has increased by over 30% in the past decade.
It’s typical for artists to only get 15–20% of gross ticket revenue from their shows.
The top 1% of artists earn 60% of all live music revenue, leaving little space for emerging and independent artists.
A S*** Deal for Venues Too
In the past year, 16% of the UK's grassroots music venues have permanently closed their doors.
Another 38% of the remaining venues are operating at a loss, putting them at risk of closure.
Over 60% of successful UK artists began their careers performing at grassroots venues, putting the future health of music at considerable risk.
Our Vision of a Fairer, More Fun Live Music Scene
But we can see a path to a different future—a new economic model for li
ve music, built on emerging technologies that are invisible to users.
⬇️ Low Fees: Tickets are affordable, with transparent pricing and minimal fees.
🫂 Fan-Friendly Experiences: Smooth bot-less ticketing processes, easy refunds, and personalised event recommendations.
🧠 Smarter Use of Technology: Secure ticketing systems that eliminate bots and scalpers.
✨ Digital Enhancements: Integration of social and digital content with in-real-life (IRL) events for enriched experiences.
🤑 Fan Rewards: Fans earn perks (and cash) for promoting artists and attending shows.
↔️ Direct Connections: Artists have access to attendee data, allowing for personalised follow-ups with digital memorabilia and merch offers.
⚡️ Instant Payments: Revenue is split automatically and fairly, ensuring artists are paid quickly.
Be Part of the Revolution
This is not a vision of a distant future. We’ve built a lot of this already at Momentify. This is a movement gaining momentum. Teams like OnOpen are pushing for transparency and fairness with on-chain ticketing. Our own product suite at Momentify is in closed beta and available now for fans who want to try it early.
Support the Cause: You can access the beta of the Momentify app using this link.
And grab one of these limited Zora collectibles to show your support and be rewarded within the Momentify app.
Join fans, independent artists, and venues who are embracing this new timeline.
The Time Is Now
The live music industry is ripe for transformation.
Together, we can make this vision a reality. Embrace new technologies and create a fairer, more enjoyable experience for everyone involved.
Let's seize this moment and redefine live music together.