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Artist - Trial Version

Lawmakers grill ticketing industry after Taylor Swift concert fiasco

Ticketmaster’s mishandling of Taylor Swift’s concert ticket sale in November earned its parent company a spot in the hot seat at the Senate Judiciary Committee’s Tuesday hearing.

Lawmakers grilled Live Nation president and CFO Joe Berchtold on the company’s market practices, with some claiming that it is monopolizing the market and hurting customers.

The ability to resell tickets can be a useful for customers who need to change plans. But it can also help prop up the scalping industry. With that in mind, lawmakers discussed whether restricting the ability to transfer tickets would help. Live Nation was in favor of this, but the CEO of a rival platform, SeatGeek, said this might only entrench Live Nation’s dominance, as it holds the kind of market share that would force consumers to solely transact there in the absence of any other resale market option.

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