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Bipartisan Senators Blast Live Nation for Squeezing Out Competition in Live Event Market

HeadlineJan 25, 2023

Senators on the Judiciary Committee grilled the president and CFO of Live Nation Tuesday, accusing the company of anti-competitive practices since their merger with Ticketmaster in 2010. The hearing was spurred by the Taylor Swift ticketing fiasco in November, when the Ticketmaster site crashed during pre-sales, which the company blamed on an onslaught of bots that purchase tickets to resell at higher cost. This is Senator Amy Klobuchar at Tuesday’s hearing.

Sen. Amy Klobuchar: “Today, Live Nation doesn’t just dominate the ticketing — it’s about 70% of the big concert market — but also they own many of the major venues. And for the venues that they don’t own, they tend to lock in on three-, five-, seven-year agreements, which means that the competitors that are out there aren’t able to even compete when it comes to the ticketing. Finally, they dominate the promoting. … This is all a definition of monopoly, because Live Nation is so powerful that it doesn’t even need to exert pressure. It doesn’t need to threaten, because people just fall in line.”

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