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☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Ticketmaster is looking for a new social media director, and it's asking the hire to be 'brave' after months of fury from fans
▼ + stars: | 2023-03-20 | by ( Rebecca Cohen | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Ticketmaster is hiring a Director of Social, and the company is asking bravery of the new hire. Posted five days ago on LinkedIn, Ticketmaster is searching for a social media expert to take over its North America marketing leadership team. Months of messy ticket sales led by Ticketmaster have put the massive entertainment sales site under the microscope. The ticketing debacle even prompted a Senate Judiciary Committee hearing titled "That's the Ticket: Promoting Competition and Protecting Consumers in Live Entertainment," where a bipartisan group of senators grilled Joe Berchtold, the president and CFO of Live Nation Entertainment. "For too long, Live Nation and Ticketmaster have wielded monopoly power anticompetitively, harming fans and artists alike."

☆ Ticketmaster's website crashed again, disrupting ticket sales for the Eurovision Song Contest 2023
▼ + stars: | 2023-03-08 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

Ticketmaster crashed once again, this time during ticket sales for the Eurovision Song Contest 2023. The company also came under fire in November after its system was overwhelmed during ticket sales for Taylor Swift's "The Eras Tour." Joe Berchtold, the president and CFO of Live Nation Entertainment, Ticketmaster's parent company, was called to testify before a Senate committee in January over the Taylor Swift ticket sales debacle. During his testimony to the Senate on January 24, Berchtold apologized to Swift and her fans, saying that "bot traffic" disrupted the ticket sales. This year's Eurovision Song Contest, which is organized by the BBC and the European Broadcasting Union, will be held from May 9 to 13 at Liverpool's 11,000-seat Liverpool Arena, per Eurovision's website.

☆ As the Department of Justice reportedly investigates Ticketmaster amidst Taylor Swift ticket chaos, Attorney General Merrick Garland reveals he's a huge Swiftie
▼ + stars: | 2023-03-02 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Taylor Swift fans apparently have one of their own in the Department of Justice: Attorney General Merrick Garland. The Wall Street Journal reports he's a die-hard Swiftie after Garland made Swift references in Senate testimony. Even before ticketing chaos for Swift's Eras Tour, the DOJ was reportedly investigating Ticketmaster. He plunged head first into Swiftie-dom with both her debut album and "Fearless," which his two daughters would play when he drove them to school, Garland told the Journal. "My daughter sent me Midnights right away as a CD, which I appreciate is a little prehistoric at this point," Garland told the Wall Street Journal.

☆ The Senators who grilled Ticketmaster's executives over Taylor Swift tickets want the Department of Justice to keep examining the company's merger with Live Nation
▼ + stars: | 2023-02-23 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Amy Klobuchar and Mike Lee are asking the DOJ to keep examining Ticketmaster and Live Nation. The letter and hearing come after renewed interest in the 2010 merger of Ticketmaster and Live Nation. Neither Live Nation Entertainment nor the Department of Justice immediately replied to Insider's request for comment. The senators note that, following their hearing on Ticketmaster and Live Nation, they, like Swift, had a question. They said they asked how many concerts every year were simultaneously promoted by Live Nation and ticketed by Ticketmaster.

☆ Taylor Swift's mega-producer Jack Antonoff breaks down 3 problems with the economics of touring: 'Don't turn a live show into a free market'
▼ + stars: | 2023-02-06 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Ticketmaster and Live Nation have faced scorn after ticketing chaos for Taylor Swift's Eras tour. Frequent Swift collaborator Jack Antonoff, who took home producer of the year for the second year running, shared some thoughts on the economics of touring and Live Nation. When asked by Variety Magazine for a comment on Live Nation, and their impact on the industry and touring, Antonoff said that the "whole thing is incredibly tough." Representatives for Antonoff and Live Nation Entertainment did not immediately respond to Insider's requests for comment. Swift's legion of fans have prompted renewed scrutiny of Live Nation and its 2010 merger with Ticketmaster.

☆ The Senate Judiciary Committee says it's 'watching' Ticketmaster as the battle for Beyoncé tickets begins
▼ + stars: | 2023-02-03 | by ( Rebecca Cohen | Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

The Senate Judiciary Committee is "watching" Ticketmaster as tickets are about to go on sale for Beyoncé's upcoming tour. But the Senate Judiciary Committee has warned the embattled platform against having a repeat of the Taylor Swift ticket fiasco. "We're watching, @Ticketmaster," the Senate Judiciary Committee tweeted Thursday. But, in that Senate Judiciary Committee meeting last month, some senators argued Ticketmaster — which merged with Live Nation in 2010 — holds a monopoly over the ticket-buying business. Lawmakers and witnesses repeatedly hammered Live Nation Entertainment over the impact of its 2010 merger, which combined Live Nation and Ticketmaster into the larger firm.

☆ John Malone prepares for a victory lap
▼ + stars: | 2023-02-01 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +7 min

Now the cable cowboy’s Liberty Media (FWONA.O) empire is trotting out its trademark financial razzle-dazzle to try and wring additional value out of its assets. Malone, Liberty Media’s chairman, is as renowned for his dizzying array of specialized equity issues, spinoffs and splits as he is for the telecom and entertainment companies that have been subjected to the intricate machinations. It excludes broadcaster Discovery, spun off from Liberty Media in 2005, and international broadband provider Liberty Global (LBTYA.O), hived off a year earlier. A more logical starting point would be 2001, when Malone carved Liberty Media out of telecom giant AT&T (T.N). Likewise, Liberty Media’s accompanying shakeup of its tracking stocks stands to further spotlight the value of Formula One.

☆ Senate Hearing on Ticketmaster’s Taylor Swift Meltdown: Five Takeaways
▼ + stars: | 2023-01-26 | by ( Anne Steele | ) www.wsj.com time to read: 1 min

Taylor Swift didn’t appear at a Senate hearing looking into last year’s botched ticket sales by Ticketmaster for her coming tour. Live Nation Entertainment Inc. faced questions from lawmakers in Washington on Tuesday, in a Senate hearing stemming from Ticketmaster’s botched ticket sales last year for Taylor Swift’s coming tour. Senators pressed Live Nation , which owns Ticketmaster, over the company’s exclusive arrangements with venues, ticketing fees, defense against cyberattacks and consumer-data protection practices. Lawmakers also sought to portray the company as a monopoly, accusing it of anticompetitive practices and suggesting that an unwinding of the 2010 merger that united the two companies be considered.

☆ Taylor Swift Ticketmaster Debacle Prompts Lawmaker Scrutiny of Live Nation
▼ + stars: | 2023-01-25 | by ( Anne Steele | ) www.wsj.com time to read: 1 min

Live Nation Entertainment Inc. faced accusations of exorbitant ticket fees, flawed customer service and anticompetitive practices during a Senate hearing Tuesday, held after the company’s Ticketmaster unit last year botched ticket sales for Taylor Swift’s coming tour. “This is all the definition of monopoly,” said Sen. Amy Klobuchar (D., Minn.), laying out complaints from venues that fear losing Live Nation concerts should they choose to use a ticketing provider other than Live Nation’s ticketing unit, Ticketmaster. “Live Nation is so powerful that it doesn’t even need to exert pressure, it doesn’t need to threaten because people just fall in line,” she said during the Senate Judiciary Committee hearing.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Live Nation and Ticketmaster monopolyArtists, activists, and music lovers are once again calling for the break up of Live Nation and Ticketmaster. The two companies merged in 2010 forming Live Nation Entertainment but critics of the company claim it has a monopoly on the live entertainment industry. While a monopoly is not illegal, abusing a monopoly position is. Here's how the industry got here and what the future could hold.

Live Nation Entertainment is composed of Live Nation, an events promoter and venue operator, and Ticketmaster, a ticket sales giant. This is not the first time consumers have called for the breakup of Ticketmaster and Live Nation. While Live Nation Entertainment arguably has a monopoly on the industry, a monopoly in itself is not illegal in the United States. The band regularly interacts with Live Nation Entertainment. It’s unclear what's next for Live Nation Entertainment.

☆ Senators Press Live Nation Over Taylor Swift Ticketmaster Debacle
▼ + stars: | 2023-01-24 | by ( Anne Steele | ) www.wsj.com time to read: 1 min

Berchtold will argue that enforcement of the BOTS Act, a 2016 law aimed at improving online ticket sales, is lacking and call for new legislation. According to the written remarks, Berchtold will also comment on "unprecedented demand" for Taylor Swift tickets and bot traffic that was "three times" higher than it has experienced in the past. Bot traffic is typical for ticket sales, especially during popular events like Swift's highly anticipated tour. "While the bots failed to penetrate our systems or acquire any tickets, the attack required us to slow down and even pause our sales," Berchtold is expected to say. As we said after the onsale, and I reiterate today, we apologize to the many disappointed fans as well as to Ms.

☆ Live Nation exec will face lawmakers about Taylor Swift concert tickets fiasco
▼ + stars: | 2023-01-24 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +7 min

“It goes without saying that I’m extremely protective of my fans,” Swift wrote on Instagram in November. The mergerCriticism of Ticketmaster’s dominance dates back decades, but the Swift ticketing incident has once again turned that issue into a dinner table discussion at many households. Concert promoter Live Nation and ticketing company Ticketmaster, two of the largest companies in the concert business, announced their merger in 2009. ‘Customers are the ones that pay the price’While irate fans were left scrambling to wade through the Swift ticket confusion, their collective anger caught lawmakers’ attention. To me, what happened with the Swift concert tickets was not necessarily the result of Ticketmaster being the dominant player in the industry,” he said.

☆ Ticketmaster under fire: 6 takeaways from hearing over Taylor Swift concert fiasco
▼ + stars: | 2023-01-24 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +9 min

The venues controlled by Live Nation set fees that are “consistent with the other venues in the marketplace,” he said. Entertainment industry pushes back at Ticketmaster’s dominanceMembers of the entertainment industry and one rival spoke out against Ticketmaster’s dominance in the industry. Andrew Harnik/APClyde Lawrence, a singer-songwriter on the witness panel, explained how the company acts as a promoter, a venue and the ticketing company, which eats into performing artists’ revenues. Artists, he said, have no leverage over Live Nation. Lawmaker says Ticketmaster merger should ‘be on the table’Lawmakers repeatedly questioned the US government’s past handling of the Live Nation merger with Ticketmaster.

☆ Live Nation president apologizes to Taylor Swift and her fans for ticketing fiasco and says the industry is still competitive
▼ + stars: | 2023-01-24 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

Live Nation president and CFO Joe Berchtold apologized to Taylor Swift and fans for the ticket debacle. Berchtold said that the company faced bot attacks during the Swift ticket sale, impacting service, and apologized to Swift and fans. This power over the entire live entertainment industry allows Live Nation to maintain its monopolistic interests over the primary ticketing market," Groetzinger said. "This is all a definition of monopoly, because Live Nation is so powerful that it doesn't even need to exert pressure," Klobuchar said. Lawrence, who's written for the New York Times on Live Nation and its impact on artists, said Live Nation often functions as three different things: promoter, venue, and ticketing company.

☆ Ticketmaster-parent exec to blame 'industrial-scale ticket scalping' in testimony
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 24 (Reuters) - The president of Ticketmaster parent Live Nation (LYV.N), Joe Berchtold, is expected to testify on Tuesday before Congress that "industrial-scale ticket scalping" was to blame for the company's problems late last year in managing the sale of Taylor Swift concert tickets. Ticketmaster, which has been unpopular with fans for years, has drawn fresh heat from U.S. lawmakers over how it handled ticket sales for Swift's "Eras" tour, her first in five years. Experts say that Ticketmaster commands more than 70% market share of primary ticket services for major U.S. concert venues. In November, Ticketmaster canceled a planned ticket sale to the general public for Swift's tour after more than 3.5 billion requests from fans, bots and scalpers overwhelmed its website. A previous Ticketmaster dispute with the Justice Department culminated in a December 2019 settlement extending the consent agreement into 2025.

☆ Taylor Swift ticket sales debacle manages to unite bitter rivals
▼ + stars: | 2023-01-24 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

Some people may even find a kind of beauty in the way the system was designed to keep special interests in check. “To have a strong capitalist system, you have to have competition,” said Senator Amy Klobuchar, who called the hearing. “You can’t have too much consolidation — something that, unfortunately for this country, as an ode to Taylor Swift, I will say, we know all too well.”(Nice one, Ames.) ICYMI, tickets for Swift’s Eras Tour, which begins in March, went up for pre-sale on Ticketmaster in mid-November. But the bigger question of whether Live Nation is a monopoly is up to the Department of Justice.

☆ Live Nation CFO to testify in Senate after Taylor Swift ticketing woes
▼ + stars: | 2023-01-23 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

FILE PHOTO: The logo for Live Nation Entertainment is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2019. REUTERS/Brendan McDermidWASHINGTON (Reuters) -Live Nation Entertainment President and Chief Financial Officer Joe Berchtold will testify at a U.S. Senate Judiciary Committee hearing on Tuesday after its Ticketmaster’s unit had problems managing the sale of Taylor Swift concert tickets, the committee said. Live Nation did not immediately comment. “As Live Nation leverages its power across the concert ecosystem to increase its profits, concertgoers see higher prices, and artists experience challenging touring dynamics,” Lawrence wrote in a New York Times essay last month. In November, Ticketmaster denied any anti-competitive practices and noted it remained under a consent decree with the Justice Department following its 2010 merger with Live Nation.

☆ Live Nation CFO defends Ticketmaster, blames bots for Taylor Swift debacle
▼ + stars: | 2023-01-23 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

FILE PHOTO: The logo for Live Nation Entertainment is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2019. Ticketmaster has come under harsh criticism from fans and lawmakers, accusing it of having too much control over the market for concert tickets. Berchtold’s testimony said Live Nation has invested over $1 billion over the years to improve Ticketmaster. “Whether it meets the legal definition of a monopoly or not, Live Nation’s control of the live music ecosystem is staggering.”Ticketmaster has denied any anti-competitive practices and remains under a consent decree with the Justice Department following its 2010 merger with Live Nation. Live Nation included letters of support with its testimony including one from singer Garth Brooks who asked” My question is, as a country, why don’t we just make scalping illegal?

WASHINGTON, Jan 17 (Reuters) - A U.S. Senate committee will hold a hearing on Jan. 24 on the lack of competition in the ticketing industry after Ticketmaster's problems managing the sale of Taylor Swift concert tickets. The Senate Judiciary Committee hearing is titled "That’s The Ticket: Promoting Competition and Protecting Consumers in Live Entertainment." "We will examine how consolidation in the live entertainment and ticketing industries harms customers and artists alike." Consent decrees are often used to prohibit potentially anticompetitive practices or impose other requirements as a condition of merger approvals. A previous Ticketmaster dispute with the Justice Department culminated in a December 2019 settlement extending the consent agreement into 2025.

☆ FanDuel's Amy Howe tries to balance pragmatism, humility, and profitability — all while being a trailblazer in a male-dominated industry
▼ + stars: | 2022-12-28 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +5 min

As the CEO of FanDuel, Amy Howe accomplished a feat this year that so far no other US sports-betting platform has been able to achieve: profitability. Seeking constant innovationThis year Howe launched FanDuel TV, a 24-hour television network, which features a mix of studio programming and live sports. She also sealed deals with the WNBA and the New York Yankees, making FanDuel the official sportsbook partner and official daily fantasy partner for the league and team. At the SBC Summit North America trade show and conference this year, she described the female market as an "untapped opportunity" and detailed a number of FanDuel's initiatives to bring more women bettors into the fold. "We're always a little bit paranoid about making sure that we can continue to maintain that position," Howe told Insider last year.

☆ Why the Taylor Swift debacle could lead to renewed scrutiny of the Ticketmaster/Live Nation merger
▼ + stars: | 2022-12-22 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Lawmakers and Swifties are calling for the Ticketmaster/Live Nation merger to be reexamined. The Department of Justice was reportedly investigating the merger prior to the Eras Tour madness. Now, the Department of Justice is reportedly investigating the Ticketmaster/Live Nation merger, a probe that began even before the Eras Tour debacle. That's the kind of merger critics argue happened with Live Nation and Ticketmaster. Live Nation has not incurred any of those penalties.

☆ It's not just Taylor Swift. Musicians describe the 'demented struggle' of touring in a shrinking industry where one giant company sells the tickets for most major venues.
▼ + stars: | 2022-12-20 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +14 min

On top of that, the Justice Department is reportedly investigating the 2010 merger of industry leaders Ticketmaster and Live Nation. Live Nation Entertainment said in a statement that it owns and operates just over 100 of the nearly 4,000 total live music venues in the United States. "Put simply, artists, venues, and consumers should no longer be at the mercy of a single seller," Sens. At the same time, Live Nation Entertainment is seeing a record year due to more shows than ever. "We always welcome the opportunity to discuss important issues facing the live entertainment industry," Live Nation said in a statement.

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