U.S. Senate panel to carry Jan. 24 listening to on ticket business points

U.S. Senate panel to carry Jan. 24 listening to on ticket business points

U.S. Senate panel to carry Jan. 24 listening to on ticket business points

By David Shepardson

WASHINGTON (Reuters) – A U.S. Senate committee will maintain a listening to on Jan. 24 on the dearth of competitors within the ticketing business after Ticketmaster’s issues managing the sale of Taylor Swift live performance tickets.

The Senate Judiciary Committee listening to is titled “That’s The Ticket: Selling Competitors and Defending Customers in Reside Leisure.” The committee didn’t disclose the witnesses.

In November, Ticketmaster canceled a deliberate ticket sale to most people for Swift’s “Eras” tour, her first in 5 years, after greater than 3.5 billion requests from followers, bots and scalpers overwhelmed its web site.

“The problems inside America’s ticketing business have been made painfully apparent when Ticketmaster’s web site failed a whole bunch of hundreds of followers hoping to buy tickets for Taylor Swift’s new tour, however these issues usually are not new,” mentioned Senator Amy Klobuchar, who heads an antitrust subcommittee.

“We are going to study how consolidation within the reside leisure and ticketing industries harms clients and artists alike.”

Klobuchar and two different lawmakers argued in November that Ticketmaster and proprietor Reside Nation Leisure needs to be damaged up by the Justice Division if any misconduct is present in an ongoing investigation.

Ticketmaster, which antitrust specialists contend instructions greater than 70% market share of major ticket companies for main U.S. live performance venues, didn’t reply to a Reuters request for remark late Tuesday.

In November, the corporate denied any anti-competitive practices and famous it remained underneath a consent decree with the Justice Division following its 2010 merger with Reside Nation, including that there was no “proof of systemic violations of the consent decree.”

Consent decrees are sometimes used to ban doubtlessly anticompetitive practices or impose different necessities as a situation of merger approvals.

A earlier Ticketmaster dispute with the Justice Division culminated in a December 2019 settlement extending the consent settlement into 2025.

Swift has mentioned beforehand that her staff had been assured by ticket sellers that they may deal with a surge in demand and that it was “excruciating” for her to observe errors occur with no recourse.

(Reporting by David Shepardson; Enhancing by Edwina Gibbs)

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