The Taylor Swift Ticketmaster fiasco will be front and center Tuesday on Capitol Hill as the president of Live Nation, Ticketmaster's parent company, is set to testify in a hearing before the Senate Judiciary Committee.
The hearing, titled "That's the That’s the Ticket: Promoting Competition and Protecting Consumers in Live Entertainment,” is expected to delve into whether Ticketmaster and Live Nation possess overwhelming control over the music concert industry.
A number of music executives are expected to testify, including Joe Berchtold, the President and CFO Of Live Nation Entertainment, and Jack Groetzinger, the CEO of SeatGeek.
The hearing is expected to last approximately two hours, with chairman and Illinois Sen. Dick Durbin, along with Minnesota Sen. Amy Klobuchar set to make opening statements.
"We have a situation where Ticketmaster has 70% of the market share when it comes to ticketing for large events," Minnesota Sen. Amy Klobuchar told NBC News in an interview. "And the fact that they messed up this Taylor Swift concert is actually the tip of the iceberg because it's been happening to Bruce Springsteen, to Bad Bunny, to smaller artists that maybe you have never heard of but are very important to their fans. And so that happens when you don't have competition."
"What's the result?" Klobuchar continued, "Higher fees, we're looking at like 27% average per ticket, for some tickets 75%."
In Chicago, fees for shows sold through Ticketmaster range from tacking on an additional $18 to $80, depending on the artist and the venue, according to data obtained by NBC 5.
For a $66 ticket to the Big Gigantic's Feb. 18 show at the Salt Shed, fees and taxes come in $18.25, bringing the total ticket price to $92.68.
A ticket to SZA's Feb. 22 United Center show that runs $254 comes in at over $300 total, after $46.13 in fees and tax. And a ticket to Country Star Luke Combs' May 6 show at Soldier Field that sells for $439 would cost a buyer $524.99 through Ticketmaster, after $87.46 in fees and tax.
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The hearing is set to begin at 9 a.m. CST.
