The Justice Department may be able to solve the Taylor Swift ticket mystery since, according to reports, the government is already looking into the parent corporation of Ticketmaster for alleged antitrust offenses.
The government is closely examining Live Nation Entertainment, according to the New York Times, to see whether the business is misusing its enormous market position to take advantage of millions of music enthusiasts.
The Swift craze definitely heightens the drama, but according to sources with the New York Times, the department’s antitrust section has previously been in contact with venues in the sector over Live Nation’s prior business practices and the general dynamics of the ticket business.
As you are aware, chaos ensued last week when fans went to Ticketmaster to attempt to secure tickets for “The Eras Tour” during the presale.
Even though the firm cancelled the Friday public sale, which is typically how it sells any unsold tickets following presales, the resale market is suddenly seeing exorbitant pricing.
IMPORTANT: Tennessee AG Jonathan Skrmetti has already started his own antitrust probe into the business because he is concerned that there is not enough competition for Ticketmaster, which results in expensive ticket pricing and a bad buying experience for customers.