Legislation targeting Ticketmaster introduced to U.S. Senate following hearings
thefader.comFollowing the highly-publicized Senate hearings that took place after a botched Taylor Swift ticket sale, legislation has been introduced for debate by Senators Amy Klobuchar (D-MN) and Richard Blumenthal (D-CT): The “Unlock Ticketing Markets Act” seeks to “to improve competition in live event ticketing markets,” according to a statement from Klobuchar’s office.
If signed into law, the bill would allow the Federal Trade Commission (FTC) to crack down on extended contractors between artists and venues, the kind used regularly by Ticketmaster’s parent company Live Nation.
These contracts “lock out competitors, decrease incentives to innovate new services, and increase costs for fans,” Klobuchar’s statement reads.
It continues: “Right now, one company is leveraging its power to lock venues into exclusive contracts that last up to ten years, ensuring there is no room for potential competitors to get their foot in the door.
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