Senator Amy Klobuchar confirmed yesterday (November 22), that the hearing will be convened by the US Senate Antitrust Committee to highlight the lack of competition in the live music and ticketing industry, although the date and list of witnesses for the hearing has yet to be determined. . open.
Ticketmaster’s fan-approved preshow for Swift’s 2023 ages The tour started Tuesday, November. 15, many users were on the system resulting in server crashes. While a percentage of fans were able to successfully purchase tickets through pre-sale, millions did not, and Ticketmaster eventually canceled a general ticket sale that was scheduled to take place on Friday, November. 18. Later resale sites had tickets for the tour in amounts up to $20,000, according to PopCrush.
While the fiasco of Swift’s tour highlighted many problems already in the ticketing industry, Justice Department. investigated live nationTicketmaster’s parent company, for a while now, as The company allegedly violated antitrust laws.
Last week, the problem of competition in the ticket markets became painfully apparent when hundreds of thousands of fans hoping to buy concert tickets were blown away by Ticketmaster’s website. High fees, site downtime, and cancellations suffered by customers show just how dominant Ticketmaster is in the market. It means that the company does not face any pressure to innovate and improve continuously.” [via Variety].
“That is why we will be holding a hearing on how consolidation in the live entertainment and ticketing industry is hurting customers and artists alike. When there is no competition to incentivize better services and fair prices, we all suffer the consequences.”