Ticketmaster In The Hot Seat
Ticketmaster officials faced a grilling on Capitol Hill this morning as lawmakers grilled them about unfair ticketing practices and having a monopoly on the industry. This is all coming to a head because so many fans were screwed out of buying tickets for Taylor Swift's upcoming tour. Ticketmaster absolutely could not handle the demand and then the outrage and news stories began.
But don't worry, Joe Berchtold, Live Nation CEO apologized to all of you and they swear they absolutely do not have a monopoly on the ticket business (Live Nation is the parent company of Ticketmaster). I'm totally sure $1,000 an-hour lawyers did not prepare Berchtold's speech and he definitely wasn't wearing a custom-tailored suit either. He is a man of the people, just sitting online in a Ticketmaster queue, trying to get seats like the rest of us. He's a total Swiftie.
"We apologize to the fans. We apologize to Ms. Swift."
— The Associated Press (@AP) January 24, 2023
Top executives in the ticketing industry are facing the Senate Judiciary Committee after Ticketmaster’s breakdown last year during a sale of Taylor Swift concert tickets. https://t.co/ivF7eyC0Sp pic.twitter.com/UT1Ue5nUSC
Will this go anywhere? Who knows. It is going to take a lot more than one hearing to make something happen here, but it does look like there's some momentum. Also, the CEO of SeatGeek says Ticketmaster / Live Nation should definitely be split up. I'm personally shocked a competitor feels that way. Shocked, I tell you.
SeatGeek CEO Jack Groetzinger called to break up Ticketmaster and Live Nation during the Senate Judiciary Committee's hearing following the #TaylorSwift ticket debacle. https://t.co/z8OqGOmcbN
— billboard (@billboard) January 24, 2023
Let's just hope something positive happens here. Can we at least put a cap on the insane fees? On the endless bots? The crazy reselling of seats so Ticketmaster makes money twice on each show? Stay tuned I guess. I'm going back to drinking coffee and listening to Steely Dan. Bah humbug. Oh and Pearl Jam was right.
Senator Amy Klobuchar has scrutinized Live Nation and Ticketmaster for years. Live Nation claims they're not a monopoly. Will this morning's major Senate hearing increase calls for the company's breakup or solidify their position? https://t.co/vJfs8aeLl7
— Rolling Stone (@RollingStone) January 24, 2023
