Ticketmaster sucks — can it be fixed? DecoderPod
Sandeep Vaheesan: The Reaganite-Borkian counterrevolution in antitrust is an important reason why fans couldn’t get Taylor Swift tickets a month ago.
A side note: Bork cast such a spell on Reagan that Reagan nominated him to be on the Supreme Court. That nomination failed in part because Bork’s videotape rental history was leaked to the press, which eventually led to a federal law making your video rental history private. This is true. It’s also where the term “borked” comes from — the ‘80s.
Florian Ederer: They were direct competitors. So when Ticketmaster acquired Ticketron, they were direct competitors, they were in the same industry, and hence, that is a form of horizontal integration. Whenever two companies that are direct competitors, whenever they are merging, there’s a strong concern about abuse of market power.
In the 2000s, as music piracy upended the industry, big artists started signing massive exclusive deals with Live Nation. Jay-Z is a Live Nation artist. So are U2, Madonna, and Miley Cyrus. By 2007, Live Nation had a bunch of exclusive deals with huge artists, ownership of most major venues, and a lock on the concert promotion business.
A handful of states actually sued over the Ticketmaster-Live Nation deal, as did the Justice Department. Senator Durbin talked about this at the hearing. The terms of the Live Nation merger established by the DOJ lasted until 2019 when they were reviewed. We talked about that with Dean Budnick. As Dean told us, Live Nation’s dominance of ticketing and promotion has allowed it to shut out competitors. Jack Groetzinger, the CEO of SeatGeek, talked about this at the January hearing as well. He claimed that when venues switch to SeatGeek or another Ticketmaster competitor for their ticketing, Live Nation, which controls the artists and their promotion, stops giving concerts to those venues.
Sen. Josh Hawley : When you think about it, it’s really something. You’re forcing everybody who just wants to get this ticket on the resale market, who hasn’t bought from you to begin with, to become your customer in order to take possession of this ticket. I mean, that’s really something. Hats off to you, I guess, for being innovative and using your monopoly.
So, Dean Budnick has ideas for how Ticketmaster could have done better. But he’s not the only one. A couple of senators at the hearing also had some ideas about how to regulate Ticketmaster into working better — which is basically the government redesigning how Ticketmaster works to make it friendlier to consumers.You’ve already heard from some of the competitors in this episode: SeatGeek is another primary ticketing site that has struggled to compete with Ticketmaster.
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