January 25, 2023
We are very interested in actually doing something and not just throwing popcorn.
Sen. Amy Klobuchar (D-Minn) on continuing questions about unfair business practices by Live Nation/Ticketmaster during a Senate Judiciary Committee hearing on the topic.
Why It Matters: Artists, promoters, lawyers and business owners have accused Live Nation Entertainment (that owns Ticketmaster) of being a monopoly – holding illegal control over the entertainment industry. Live Nation refutes this allegation, and in a Senate Hearing on this topic, says they don't have as big of the market share as reported, do not try to convince, coerce or pressure artists/promoters, and need help from lawmakers as well: "We are doing everything we can to fight the people who attack our on sales and steal tickets meant for real fans, but we need help passing real reforms to stop this arms race."
Recent Backstory: The debate about whether Live Nation is a monopoly in the entertainment space has been ongoing for years (since the merger of Live Nation with Ticketmaster) but the topic returned to center stage when ticket sales for the Taylor Swift concert went so badly (the company says "bots" were the issue, but others say a lack of competition that forces artists to use a single platform for tickets, creates all sorts of hardships for them and the consumer).
Deeper Dive: What does Live Nation do exactly? "The firm engages in producing, marketing, and selling live concerts for artists via its global concert pipe. It operates through the following segments: Concerts, Sponsorship and Advertising, and Ticketing." This is why some suggest it's hard to escape the Live Nation "web" (or have any leverage to use someone else for ticketing, or event space) because every part of the performance can be done within the umbrella of the company.
Here's a background read: Taylor Swift Ticketmaster Debacle Prompts Lawmaker Scrutiny of Live Nation
Here's the full Senate Judiciary Committee hearing on the topic: WATCH
by Jenna Lee,
