Live Nation Entertainment, accused of anti-competitive practices by politicians, proposed reforms to the global concert business, saying they would benefit from fans who have struggled to get tickets to see top acts like Taylor Swift.
Elected officials should give artists more control over ticket sales and limit scalper activity, management of the world’s largest concert promoter said in a statement accompanying its year-end financial results.
Artists should be able to decide how tickets can be resold and to whom, the company said. Across all industries, ticket sellers should be more transparent about ticket prices, including the fees they charge.
Live Nation proposed the change on the same day it reported record sales of $16.7 billion for 2022, more than double a year ago and up 44% from 2019, the last normal year before Covid-19. The company has delivered strong results since the pandemic, taking advantage of the growing demand for personalized experiences.
But high prices to see acts such as Bruce Springsteen and computer glitches during Taylor Swift’s ticket sales have angered fans and led politicians to call for industry reform.
Artists and rivals say Live Nation has abused its power as the world’s top concert promoter and ticket seller through its ownership of Ticketmaster. The company has been operating under a consent decree since its acquisition of Ticketmaster and is under investigation by the US Department of Justice.
Live Nation and many of its allies have dismissed the criticism and dismissed politicians as ignorant of their business. He blames scalpers and resellers, as opposed to major sellers like Ticketmaster.
Country star Garth Brooks called on the government to ban scalping during a panel Wednesday at a conference hosted by music industry trade publication Pollstar.
Irving Azoff, the most powerful artist manager in the music business, organized the session along with Brooks, former Justice Department attorney Makan Delrahim and billionaire James Dolan, who owns the Madison Square Garden company.
Live Nation doesn’t want to ban scalpers, but it does want to limit their ability to take advance bookings for shows before tickets go on sale. It also calls for the expansion of BOTS (Better Online Ticket Sales) action to neutralize computer programs that vacuum up tickets.
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