The US Senate panel is asking Live Nation and Ticketmaster to provide information on ticket prices and fees. This request follows an investigation into the companies’ actions, particularly concerning ticket sales for Taylor Swift and Bruce Springsteen concerts.
Senator Richard Blumenthal leads the Senate Subcommittee on Investigations. The subcommittee is seeking records to understand how Live Nation and Ticketmaster addressed problems such as bots creating high demand and resulting in excessively expensive tickets for consumers.
Regarding the matter, Blumenthal said:
“THE AMERICAN PUBLIC DESERVES TO KNOW HOW TICKETMASTER’S UNFAIR PRACTICES MAY BE ENABLED BY ITS MISUSE OF MONOPOLY POWER.”
The Senate has taken a new step in investigating Live Nation and Ticketmaster by issuing a subpoena. This investigation comes after controversies about ticketing and prices. Last year, Bruce Springsteen fans were unhappy when tickets for his 2023 tour cost as much as USD $5,000.
In November 2022, Ticketmaster faced criticism from Taylor Swift fans because its ticketing system crashed during the sale of tickets for her Eras tour.
In January, the Senate Judiciary Committee had a hearing about these two companies. They were figuring out if the Live Nation and Ticketmaster merger harmed consumers by reducing competition.
In May, Congressmen Bill Pascrell, Jr. and Frank Pallone, Jr. introduced the ‘Boss and Swift Act‘ in the House. They want to bring transparency and rules to the live events ticket market, which they say is “badly corrupted“.