TThe drama experienced by millions of Taylor Swiftfans for failing to get tickets for his Eras Tourdue to Ticketmaster practices, requested the Department of Justice to launch an investigation against the parent company Live Nation Entertainment, for antitrust violations.
According to a New York Times report, the investigation will focus on the eventuality Live Nation is abusing its power harm fans of Swift or any other artist looking for concert tickets.
The investigation was already underway
The Justice Department had already been investigating Live Nation for months, but the scandal sparked by what happened with Swift’s tourwhere Ticketmaster’s systems crashed, made it public and more urgent.
Those conducting the investigation are talking to music venues and other areas related to ticket sales determine whether Live Nation is exercising a monopoly on the industry e affecting millions of fans.
Ironically, the merger between Live Nation and Ticketmaster happened in 2010 and was approved by the Justice Departmentwho is now investigating it.
A multi-billion dollar business that benefits a few
Before the pandemic, in 2019, Live Nation organized 40,000 events worldwideand sold 485 million tickets. According to LN’s latest annual report, the company had 100 managers working with more than 450 artists, but does not manage Taylor Swift.
By the end of that year, the Justice Department found that Live Nation had violated several provisions, but a the agreement was reached until 2025. It claims that Live Nation is authorized to negotiate ticketing agreements with venues.
In the case of Swift’s The Eras Tour, the scandal erupted when Ticketmaster ticket sales to the public have been cancelled, which takes place after the presale and offers remaining seats. The problem is that the resale came to offer tickets for Swift’s tour for up to $100,000.
