Senators and Antitrust Advocates Criticize Live Nation for Alleged Monopolization of Live Entertainment Industry

At a congressional hearing on Tuesday, senators from both parties and antitrust advocates criticized Live Nation Entertainment, Inc. for its alleged monopolization of the live entertainment industry. The hearing was called in response to the mishandling of Taylor Swift’s “Eras Tour” ticket sales last year, which saw consumers dealing with website outages and long wait times.

Live Nation President and Chief Financial Officer Joe Berchtold faced questioning from lawmakers about the company’s market practices. Jack Groetzinger, CEO of ticketing platform SeatGeek, called for the dissolution of the common ownership of Ticketmaster and Live Nation as the only effective remedy.

Berchtold defended Live Nation’s practices, blaming the Taylor Swift ticketing debacle largely on bots. He argued that the company has implemented a number of measures to protect consumers, including a “Verified Fan” program that requires fans to register in advance to purchase tickets.

However, senators and antitrust advocates were unconvinced, citing the company’s continued dominance of the live entertainment industry. They argued that the company’s practices have resulted in higher ticket prices and a lack of competition.

The Senate Judiciary Committee will continue to investigate Live Nation’s practices to determine if they are in violation of antitrust laws. The committee is also considering potential remedies, including the dissolution of Ticketmaster and Live Nation.