Joe Berchtold, the president and CFO of Ticketmaster parent company Live Nation Entertainment, testified before a Senate committee on Tuesday, two months after the Swift ticketing fiasco reignited public scrutiny of the industry. Concert promoter Live Nation and ticketing company Ticketmaster, two of the largest companies in the concert business, announced their merger in 2009. ‘Customers are the ones that pay the price’While irate fans were left scrambling to wade through the Swift ticket confusion, their collective anger caught lawmakers’ attention. We also have to remember that Taylor Swift and her team negotiated a contract with Ticketmaster for sale of her concert ticket,” said Marks. To me, what happened with the Swift concert tickets was not necessarily the result of Ticketmaster being the dominant player in the industry,” he said.

Source: CNN January 25, 2023 02:45 UTC