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Ticket prices are set by the promoter; sometimes in conjunction with the band/artist/booking firm.
For example, say you have a 5000-person venue.
Scenario A) Booking Agent/Artist receives flat $100,000 fee.
Perhaps, the venue knows it averages $30 a head on drinks, so can afford to charge $15 a ticket and still make a profit. Maybe they want to be greedy and charge $25 as they know they will still sell out at that price level. This has zero to do with the artist, booking agent OR especially record company.
Scenario B) Booking Agent/Artist receives flat $50,000 fee + 50% of the ticket revenue.
The Booking Agent/Artist have a figure in mind. They may have some say in the pricing, but ultimately will trust the venue/promoter knows his venue and demographic and what price range will work best to make them all happy. Record company has zero involvement.
Scenario C) Primadonna artists
Here is where the artist will be someone like Madonna; who, for reputation, never wants her tickets to be sold below X$ no matter the venue. Again, this very likely has absolutely nothing to do with the record company but 99% is the artist and their agent, or PR/reputation people (feeding the artist this input).
Record companies may have a % (depends on their contract with the artist) they receive of all artist's appearance revenue; but they have pretty much ZERO say in ticket prices.
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