'Ticketmaster ought to look in the mirror and say, 'I'm the problem. It's me.'' US lawmakers grilled a top executive from Ticketmaster’s parent company Live Nation over the Taylor Swift concert tickets fiasco.
Lawmakers grilled a top executive of Ticketmaster’s parent company, Live Nation Entertainment, on Tuesday after the service’s inability to process orders for Taylor Swift’s upcoming tour left millions of people unable to buy tickets late last year. During the three-hour hearing, senators pressed Live Nation president and CFO Joe Berchtold and some other witnesses on whether his company was too dominant in the industry, thereby harming rivals, musicians and fans.
The fallout from the ticketing fiasco once again cast a harsh spotlight on Ticketmaster and its power in the industry, more than a decade after it completed its merger with Live Nation despite concerns the deal would create a near monopoly in the ticketing sector. “To have a strong capitalist system, you have to have competition,” Sen. Amy Klobuchar, a Democrat from Minnesota, said during her opening remarks.
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