The hearing will be conducted by a US Senate antitrust panel to highlight the lack of competition in the live music and ticketing industries, Senator Amy Klobuchar confirmed yesterday (November 22), although a date and list of witnesses for the hearing have yet to be announced submitted. revealed.
Ticketmaster’s Verified Fan presale for Swift’s 2023 The times the tour began on Tuesday, Nov. 15, and so many users were on the system that the server crashed. While a percentage of fans were able to purchase tickets through the presale, millions were unable to, and Ticketmaster ultimately canceled the general ticket sale that was scheduled to take place on Friday, Nov. 18. Subsequently, resale websites had listed tickets for the tour for amounts as high as $20,000, according to PopCrush.
While Swift’s tour fiasco brought many of the pre-existing problems within the ticketing industry to light, the Justice Dept. have investigated Live Nationthe parent company of Ticketmaster, for a while now, which The company allegedly violated antitrust laws.
“Last week, the problem of competition in the ticket markets became painfully clear when Ticketmaster’s website failed hundreds of thousands of fans hoping to buy concert tickets. The high fees, website disruptions and cancellations experienced by customers show how Ticketmaster’s dominant market position means the company does not stand facing some pressure to continuously innovate and improve,” Klobuchar said. [via Variety].
“That’s why we’re holding a hearing on how consolidation in the live entertainment and ticketing industry is hurting both customers and artists. When there’s no competition to encourage better services and fair prices, we all suffer the consequences.”