System called ‘a monopolistic mess’ on Tuesday in Washington, D.C. is facing calls for change that one expert says might pay off for Canadians, even if our government takes no action.
Canadians could enjoy the benefits of a United States Senate committee’s work if it results in changes being forced upon Ticketmaster, says one expert.
Ticketmaster is the world’s largest ticket seller, processing 500 million ducats each year in more than 30 countries. Around 70 per cent of tickets for major concert venues in the U.S. are sold through Ticketmaster, according to data in a class-action lawsuit filed by consumers last year. The benefits could include more transparency in ticket purchases, paying less for tickets and fewer opportunities for ticket scalpers, Bednar suggested.
Live Nation’s president and chief financial officer Joe Berchtold apologized for the incident and promised to improve service. The company said it has already spent $1 billion over the last decade on security enhancements.
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