Republicans and Democrats on the Senate Judiciary Committee also debated possible action, including making tickets nontransferable to cut down on scalping and requiring more transparency in ticket fees. Some suggested it may also be necessary to split Ticketmaster and Beverly Hills, California-based concert promoter Live Nation, which merged in 2010.
“The fact of the matter is, Live Nation/ Ticketmaster is the 800-pound gorilla here,” said U.S. Sen. Richard Blumenthal, a Connecticut Democrat. “This whole concert ticket system is a mess, a monopolistic mess.”
Ticketmaster is the world’s largest ticket seller, processing 500 million tickets each year in more than 30 countries. Around 70% of tickets for major concert venues in the U.S. are sold through Ticketmaster, according to data in a federal lawsuit filed by consumers last year.
In mid-November, Ticketmaster’s site crashed during a presale event for Swift’s upcoming stadium tour. The company said its site was overwhelmed by both fans and attacks from bots, which were posing as consumers in order to scoop up tickets and sell them on secondary sites. Thousands of people lost tickets after waiting for hours in an online queue.
Live Nation’s President and Chief Financial Officer Joe Berchtold apologized to fans and to Swift, and said the company knows it must do better. Berchtold said Ticketmaster has spent $1 billion over the last decade trying to improve its security and stop bots.
“We need to do better and will do better,” he said.
This story is from the January 28, 2023 edition of Techlife News.
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This story is from the January 28, 2023 edition of Techlife News.
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