> a big player with money to burn can undercut them
Unclear. There are limited cities that can support a 30,000+-seat stadium. Most of them have some already. Unless there is way more demand for these venues than I realise, I'd also guess they're close to saturation, i.e. adding another venue would result in lower utilisation.
This natural monopoly in large concert venues creates a condition where winning is Pyrrhic, since it results in no profits for everyone playing.
Unclear. There are limited cities that can support a 30,000+-seat stadium. Most of them have some already. Unless there is way more demand for these venues than I realise, I'd also guess they're close to saturation, i.e. adding another venue would result in lower utilisation.
This natural monopoly in large concert venues creates a condition where winning is Pyrrhic, since it results in no profits for everyone playing.