WFTV9: Musical monopoly: why Taylor Swift fans are calling for the breakup of Ticketmaster

November 18, 2022 Media, Videos

On Tuesday, much of the United States stared endlessly at computer or phone screens, watching a sliding bar go positively nowhere.

Very few things can hold the attention of today’s generations for as long as the promise of Taylor Swift concert tickets. Tuesday’s offering wasn’t even the official sale, but a presale, exclusively held in advance for “verified fans.”

Swift certainly had a lot of them.

“Live Nation-Ticketmaster has a monopoly in all of the classic ways,” Robyn Shapiro, communications director at the antitrust think tank American Economic Liberties Project, said. “That merger gave the resulting entity an incredible amount of control, not just over the primary ticketing market, which now controls to the tune of about 70%, but also to control over venues and control over artists.”

Justice Department officials said their investigation began six weeks before the Swift-related saga occurred. That places it shortly after questions were raised about astronomical prices for Bruce Springsteen’s tour.

“We have [sent] 40,000 emails to the DOJ,” Shapiro said. “I don’t know the last time that many people asked the Department of Justice to unwind a merger, but there’s overwhelming public demand and clearly interest in listening to them.”

“Corporate monopolies are pervasive in our economy,” Shapiro said. “They’re the reason why parents couldn’t find baby formula months ago. They’re the reason why insulin is so expensive.”