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Taylor Swift just got an apology from Live Nation president and CFO Joe Berchtold over her Eras Tour ticket debacle. The Senate Judiciary Committee held a hearing on Tuesday to discuss the issues regarding ticketing competition and consumer protection. While Berchtold apologized to Taylor and her fans alike, he also insisted that ticketing markets have never been more competitive, thus denying the claims that Ticketmaster and Live Nation are a monopoly in the business. For the unversed, both companies merged in 2010.
Live Nation president and CFO Joe Berchtold’s apology to Taylor Swift and fans
Addressing the senate, Joe Berchtold expressed his views in a prepared testimony at the Senate Judiciary Committee titled, “That’s the Ticket: Promoting Competition and Protecting Consumers in Live Entertainment.” As per Business Insider, he said, “We hear people say that ticketing markets are less competitive today than they were at the time of the Live Nation-Ticketmaster merger. That is simply not true.”
Apologizing to Swifties, Berchtold further claimed that the company faced bot attacks during the ticket sale for Taylor Swift’s Eras tour, which impacted service. “We apologize to the fans. We apologize to Ms. Swift,” Berchtold said. “We need to do better and we will do better.”
Joe Berchtold further emphasized the fact that since the merger of Live Nation and Ticket Master since 2010, Ticketmaster has lost market share, instead of gaining it. He further stated that Live Nation Entertainment takes the antitrust laws seriously and would not do anything which could justify antitrust litigation.
What is the Taylor Swift Eras Tour Ticket Fiasco?
For the unversed, Taylor Swift’s fans were ready to burn Ticketmaster to the ground after they ran out of tickets for the music icons Eras Tour – her first nationwide tour since 2018. The general sale was called off after a chaotic pre-sale prior to that. Angry, upset, and disappointed fans took to Twitter to call out the company and register their protest over its inefficiency.
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