"Daily reminder that Ticketmaster is a monopoly," said Rep. Alexandria Ocasio-Cortez."Break them up."Without explicitly mentioning pop star Taylor Swift and her upcoming tour, Rep. Alexandria Ocasio-Cortez spoke up for fans who spent hours on Monday trying to get concert tickets only to wait in a queue of thousands of people and in some cases be automatically logged out by ticketing giant Ticketmaster before they could make a purchase.
Near-total control of the market has allowed the company to introduce an algorithmic"dynamic pricing" model, which pushes prices as high as $5,000 per ticket in the case of one recent Bruce Springsteen tour, as well as leaving customers without other options if they run into major technical difficulties.
"All of these exploitative practices make Ticketmaster execs very, very rich," added Doctorow, pointing to the $70.6 billion compensation package given to Live Nation CEO Michael Rapino in 2017.
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