What (If Anything) Can and Should be Done About Ticketmaster?

WHAT (IF ANYTHING) CAN AND SHOULD BE DONE ABOUT TICKETMASTER?

So, should something be done about Ticketmaster? Can anything be done about Ticketmaster and the broken system of ticketing for live events?

It’s hard to believe that Ticketmaster controls more than 70 percent of the US ticketing market for live events. They control more than 80 percent of initial sales for live concerts. By any definition, this makes Ticketmaster a monopoly. More like a gorilla.

READ: TICKETMASTER’S DARK HISTORY

Monopolies (for profit) almost always screw the public. One reason why America has prospered, despite monopolies, is because at various junctions in history, the federal government stepped in and busted monopolies. This goes for steel companies, railroads, big oil, and even communications (recall Bell/AT&T). When monopolies were broken apart, consumers were the beneficiaries.

However, monopolies do continue to exist and thrive. Ticketmaster might be the single most exploitative master manipulator of its dominant status in any industry right now. Chances are, if you attended any major event in the US in recent years, you went through Ticketmaster, or one of its subsidiaries, and paid a supplemental fee for your ticket purchase.

One can credibly argue that ticketing and entertainment shouldn’t be a government concern. Certainly, when compared with basic sustenance issues like housing, banking, energy costs, health care, etc., we can probably agree that buying tickets to see Adele isn’t so important. Nonetheless, several investigations spearheaded by congressional hearings have taken place in the past, such as the exposure of game show scandals in the 1950s, steroid use in baseball in the 1990s, and controversial social media practices, most recently.

So, should something be done about Ticketmaster? Can anything be done about Ticketmaster and the broken system of ticketing for live events?

Full Disclosure: I know very little about this subject, so I’m eager to learn more from those who have dealt with ticketing. What I do know is that I’m dissuaded from even trying to attend some events because of the highs costs and hassle. I assume others share my exasperation.

FOLLOW THE DISCUSSION ON FACEBOOK HERE: