Senators Introduce Legislation to Increase Competition in Ticketing

variety.com:

Jem Aswad Senior Music Editor In the wake of the Senate Judiciary Committee’s hearing examining on Ticketmaster’s powerful presence in the live-entertainment market, U.S.

Senators Amy Klobuchar (D-Mn.) and Richard Blumenthal (D-Ct.) today introduced legislation intended to improve competition in live event ticketing markets.

Without naming the company, the announcement notes that “Today’s primary ticketing market is dominated by one company that by some estimates has locked up 70 to 80 percent market share and has used its dominance to pressure venues to agree to ticketing contracts that last up to ten years, insulating it from competition.”  Titled the “Unlock Ticketing Markets Act,” the legislation aims to “help restore competition to live event ticketing markets by empowering the Federal Trade Commission to prevent the use of excessively long multi-year exclusive contracts that lock out competitors, decrease incentives to innovate new services, and increase costs for fans,” referencing ticketing companies’ practice of exclusive contracts with venues and promoters. “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,” said Klobuchar, clearly referencing Ticketmaster. “Without competition to incentivize better services and fair prices, we all suffer the consequences.

The Unlock Ticketing Markets Act would help consumers, artists, and independent venue operators alike by making sure primary ticketing companies face pressure to innovate and improve.”  Senators on Wednesday are set to introduce a bipartisan bill targeting hidden ticket fees for live events, called the