Amy Klobuchar, a Democrat from Minnesota, said during her opening remarks. “To have a strong capitalist system, you have to have competition,” Sen. 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. Lawrence also said with Ticketmaster, “we’ll see a 40%-ish or closer to 50% fee added on top” of the base ticket price. “But with Live Nation not only acting as the promoter but also the owner and operator of the venue, it seriously complicates these incentives.” “Since both our pay and theirs is a share of the show’s profits, we should be true partners aligned in our incentives - keep costs low while ensuring the best fan experience,” he said. Artists, he said, have no leverage over Live Nation. Andrew Harnik/APĬlyde Lawrence, a singer-songwriter on the witness panel, explained how the company acts as a promoter, a venue and the ticketing company, which eats into performing artists’ revenues. He continued: “As long as Live Nation remains both the dominant concert promoter and ticketer of major venues in the US, the industry will continue to lack competition and struggle,” he said.īandmate Jordan Cohen, right, listens as singer-songwriter Clyde Lawrence, left, testifies before a Senate Judiciary Committee hearing to examine promoting competition and protecting consumers in live entertainment.
“This power over the entire live entertainment industry allows Live Nation to maintain its monopolistic influence over the primary ticketing market.” “Live Nation controls the most popular entertainers in the world, routes most of the large tours, operates the ticketing systems and even owns many of the venues,” he told lawmakers. Jack Groetzinger, CEO of SeatGeek, alleged that many venue owners “fear losing Live Nation concerts if they don’t use Ticketmaster” and its services, and argued the company must be broken up. Members of the entertainment industry and one rival spoke out against Ticketmaster’s dominance in the industry. The venues controlled by Live Nation set fees that are “consistent with the other venues in the marketplace,” he said.Įntertainment industry pushes back at Ticketmaster’s dominance He also rejected suggestions that its dominance has allowed for soaring fees, citing data from the market intelligence firm Pollstar showing that Live Nation controls about 200 out of approximately 4,000 venues in the United States, or about 5%.
He emphasized that Ticketmaster does not set ticket prices, does not determine the number of tickets put up for sale and that “in most cases, venues set service and ticketing fees,” not Ticketmaster. Mandel Ngan/AFP/Getty Imagesīerchtold also went on defense more broadly about his company. Joe Berchtold, president and CFO of Live Nation Entertainment, Inc, speaks during a US Senate Judiciary Committee hearing on promoting competition and protecting consumers in live entertainment, on Capitol Hill in Washington, DC, on January 24, 2023. This is what led to a terrible consumer experience that we deeply regret.” Ticketmaster, he said, was “hit with three times the amount of bot traffic than we had ever experienced” amid the “unprecedented demand for Taylor Swift tickets.” The bot activity “required us to slow down and even pause our sales. In his testimony Tuesday, Berchtold partly blamed the Swift ticketing incident on the bots. Unable to resolve the problems, Ticketmaster subsequently canceled Swift’s concert ticket sales to the general public, citing “extraordinarily high demands on ticketing systems and insufficient remaining ticket inventory to meet that demand.” When tickets for Swift’s new five-month Eras Tour went on sale on Ticketmaster in mid November, heavy demand snarled the ticketing site, infuriating fans who couldn’t snag tickets. Here’s a look at the big takeaways from the hearing:
“You have brought together Republicans and Democrats in an absolutely unified cause.” “I want to congratulate and thank you for an absolutely stunning achievement,” Sen. SwiftUI on iOS 15 has AsyncImage that allows us to load images from the network.Live Nation exec faces lawmakers about Taylor Swift concert tickets fiasco I'll share my personal experiences and recommendations on when to use what. In this blog post I reflect on the various options to have async image loading in SwiftUI:
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