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How The Taylor Swift Debacle Fueled The Ticketmaster Monopoly Debate

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Taylor Swift is not the first artist to be at the center of controversy over Ticketmaster and Live Nation’s domination of the live entertainment industry. In November when presale tickets for the pop star’s Eras Tour were plagued by disruptions and slow queues, chaos erupted and the general public sale was canceled. But Live Nation Entertainment, the consolidation of Live Nation and Ticketmaster, has been under fierce scrutiny for years and a similar uproar occurred surrounding the sale of Bruce Springsteen tickets just months prior. On Jan. 24, the Senate Judiciary Committee held a hearing that explored whether Live Nation Entertainment is hurting consumers by stifling competition. In 2019, the Department of Justice alleged Live Nation Entertainment violated its consent decree, the condition of the two companies’ merger, and the concert giant settled with the government. A monopoly is not illegal in the United States. But abuse of that power can be. Here’s a close look at why Live Nation and Ticketmaster are facing renewed antitrust scrutiny. Chapters: 1:56 - Controversies 4:34 - Market domination 7:32 - Monopoly 11:00 - Ticket prices 14:11 - What lies ahead Produced by: Emily Lorsch Edited by: Dain Evans Senior Managing Producer: Tala Hadavi Graphics by: Alex Wood Additional Footage: Vagabonding Media, Getty Images, Live Nation Entertainment » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #cnbc How The Taylor Swift Debacle Fueled The Ticketmaster Monopoly Debate

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