Ticketmaster defended itself publicly for the first time since the concert promoter's highly publicized meltdown during ticket sales for Taylor Swift's 'The Eras Tour.'
Joe Berchtold, the president and chief financial officer of Live Nation, which owns Ticketmaster, made the case to the Senate Judiciary Committee on Tuesday that the live concert industry is more competitive than it was a decade ago, when Live Nation merged with Ticketmaster, and that the ticket seller doesn't control capacity or pricing.
Last year, 87% of Billboard Top 40 performances were ticketed by Ticketmaster, and the company holds exclusive ticketing contracts with 87% of NBA and NHL arenas and 97% of NFL stadiums, testified Jerry Mickelson, head of independent event producer Jam Productions. "If they want to take 10% of the revenues and call it a facility fee, they can, and have. If they want to charge $30,000 for [facility rent], they can and have. If they want to charge us $250 for a stack of clean towels, they can, and have," Lawrence said.
"LiveNation has added as high as an 82% fee on our tickets," Lawrence testified."We have absolutely zero say or visibility in how much these fees will be, and we find out the same way as everybody else, by logging on to Ticketmaster once the concert is on sale."
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Senators to grill Ticketmaster after Taylor Swift fiascoSenators are expected to grill Ticketmaster, questioning whether the company’s dominance in the ticketing industry led to its spectacular breakdown last year during a sale of Taylor Swift concert tickets. Follow AP's coverage.
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Senators to grill Ticketmaster after Taylor Swift fiascoSenators are expected to grill Ticketmaster Tuesday, questioning whether the company’s dominance in the ticketing industry led to its spectacular breakdown last year during a sale of Taylor Swift concert tickets. U.S. Sen. Amy Klobuchar, a Minnesota Democrat, said the Senate Judiciary Committee hearing will focus on consolidation in the live entertainment and ticketing industries and how it harms customers. “For too long, consumers have faced high fees, long waits and website failures, and Ticketmaster’s dominant market position means the company faces inadequate pressure to innovate and improve,” Klobuchar said in a statement ahead of the hearing.
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Senators grill Ticketmaster after Taylor Swift fiasco'We apologize to the fans. We apologize to Ms. Swift.' 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.
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Ticketmaster grilled by senators after Taylor Swift fiascoThey wondered whether the company’s dominance in the ticketing industry led to its spectacular breakdown last year during a sale of Taylor Swift concert tickets.
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Senators grill Ticketmaster after Taylor Swift fiascoSenators grilled Ticketmaster Tuesday, questioning whether the company’s dominance in the ticketing industry led to its spectacular breakdown last year during a sale of Taylor Swift concert tickets.
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