'Ticketmaster ought to look in the mirror and say, 'I'm the problem. It's me.'' Lawmakers on Capitol Hill grilled a top executive from Ticketmaster’s parent company Live Nation over the Taylor Swift concert tickets fiasco.
A top executive at Ticketmaster’s parent company Live Nation Entertainment was grilled by lawmakers on Tuesday after the service’s inability to process orders for Taylor Swift’s upcoming tour left millions of people unable to buy tickets late last year. Over the course of the three-hour hearing, Live Nation president and CFO Joe Berchtold was pressed by senators and some of his fellow witnesses on whether his company was too dominant in the industry, thereby harming rivals, musicians and fans.
Clyde 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. Artists, he said, have no leverage over Live Nation. “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.
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