I really wonder if we tend to use the expression ''greedy producers" a bit too often and unfairly as well.
Who selling anything doesn't raise prices when demand is high and lower them when demand is low, and as I mentioned above, you can really see this at play if you are booking a reservation for a flight. Is Apple "greedy" when it sets a price of $1000 for their latest iPhone? People will either buy it at that price or the price will come down.
But in addition, don't producers owe it to their investors to maximize profits? Isn't that their fiduciary obligation? Most if not all shows are capitalized at least in part by investors who come on board with a producer or sub producer and risk 100% of their investment every time they invest in a show. (And as we all know, most of the time those investors lose some, most or all of their investment.)
And by the way, I doubt very much that producers sit around making hour by hour decisions about ticket prices, so yes, I'm pretty sure there's some sort of algorithm as mentioned by rhyhog. |
