who does supply and Demond set prices for experiences: such as movies, and concerts, and why are movie tickets the same price while concerts etc are different prices?
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The other users are right about the difference in availability of a concert vs a movie effecting the price, as well as the sizes of the venues. But one factor they’ve missed is *how* these forms of entertainment are arranged.
Concerts are arranged by a tour manager, who books the show into venues and agrees to what cut of the profits goes to the venue vs the performer. These can vary based on demand and how good each side is at negotiated. Also many arenas are operated as their own separate business. One company may own multiple arenas, but they get to operate more independently.
Meanwhile most movie theaters these days are chains, like AMC or Regal. The company as a whole negotiates with movie studios for the dispersion of the revenue, with majority of the box office going back to the studio. The theaters really make their money off the concession stand. So there’s little incentive to drive up the price of the tickets, because they want you to come in and buy food too.
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