Sen. Mike Lee references Taylor Swift lyrics at subcommittee hearing to examine Ticketmaster’s market dominance.
At a Senate subcommittee hearing on Tuesday, Republican Senator Mike Lee of Utah, along with other lawmakers, referenced lyrics from Taylor Swift’s songs while discussing the concert ticket seller Ticketmaster. The hearing was to investigate the company’s alleged monopoly on the live entertainment market and to determine if their dominance led to the spectacular breakdown when Swift’s “Eras Tour” tickets went on sale in November.
The hearing focused on how to limit ticket reselling and keep prices down, with Senator Lee referencing “Blank Space” and “Karma” from Swift’s latest album “Midnights”. He also joked about “You Belong With Me” in relation to the chair of the subcommittee, Senator Amy Klobuchar.
The senators discussed possible action, including making tickets non-transferable to cut down on scalping and requiring more transparency in ticket fees. Some suggested it may also be necessary to split Ticketmaster and Live Nation, the company that owns and runs the majority of live music venues in the United States.
Live Nation’s President and Chief Financial Officer Joe Berchtold apologized to fans and to Swift, and said the company knows it must do better. He said Ticketmaster has spent $1 billion over the last decade trying to improve its security and stop bots. Competitors argued that even if Live Nation doesn’t own a venue, it prevents competition by signing multi-year contracts with arenas and concert halls to provide ticketing services.
Senator Lee said the Justice Department is again investigating Live Nation after the Swift ticket fiasco. He said Congress should be asking if the department was right to allow the merger to go ahead in the first place. He stressed the importance of maintaining fair, free, open and even fierce competition, as it increases quality and reduces price.
At Tuesday’s hearing, senators discussed Ticketmaster’s alleged monopoly on the live entertainment market and possible action to limit ticket reselling and keep prices down. Senator Mike Lee of Utah referenced Taylor Swift’s songs during the hearing, bringing some levity to the proceedings. Live Nation’s President and Chief Financial Officer Joe Berchtold apologized and said the company has spent $1 billion over the last decade trying to improve its security and stop bots. Competitors argued that even if Live Nation doesn’t own a venue, it prevents competition by signing multi-year contracts with arenas and concert halls to provide ticketing services. Senator Lee said the Justice Department is again investigating Live Nation and Congress should be asking if the department was right to allow the merger to go ahead in the first place. He stressed the importance of maintaining fair, free, open and even fierce competition to increase quality and reduce prices. The hearing concluded with no action taken, but the issue will likely be revisited in the future.
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