#GOVERNMENT ADDRESSING MONOPOLY EXAMPLES CODE#

It is meant to “level the playing field” and “ create a safe and reliable ticket-buying experience for … fans.” However, when fans attempted to input their codes and buy tickets, they experienced a crashing system, endless wait times, and sold out venues. The most sought out was the Verified Fan presale code, created by Ticketmaster to weed out bots and ticket scalpers, the system gives pre-registered fans codes to buy tickets days before the general sale.

#GOVERNMENT ADDRESSING MONOPOLY EXAMPLES CODE#

When her long-awaited 2022 tour was announced, fans took various avenues to receive a coveted code for early-access ticket purchasing. In 2019, her Reputation tour was the highest grossing stadium tour of all time. Taylor Swift is no stranger to a stadium tour.

TAYLOR NATION, BOTS, AND APPARENTLY, EVERYONE ELSE This merger has essentially given Ticketmaster a monopoly over the concert and live entertainment industry, leaving consumers, artists, and venues stunned by Live Nation Entertainment’s market dominance. ” However, this meant that one company now controlled roughly 70% of the concert ticket market and 127 amphitheaters and clubs in the United States. The DOJ permitted the merger, under the claim that it “would encourage competition and send ticket prices down. In 2010, Ticketmaster and former competitor Live Nation merged and “ exerted a chokehold on Live Entertainment ,” creating what is now Live Nation Entertainment. While some argue that this is competition in practice, others claim it results in companies growing beyond the reach of policy makers and regulations Ticketmaster is an example of this. However, when the strongest competitor is unable to compete at the same level as the dominant company, it can result in a monopoly-like system. In theory, these companies are oligopolies, meaning they have viable competitors. Ticketmaster is another company that people associate with monopolies. When Americans think of monopolies, they may think of giant companies like Amazon, Google, and Apple. It is time to re-evaluate the mergers of powerful companies, recognize the monumental impacts that they have on the economy, and revisit antitrust legislation that has failed to stop the formation of monopolies. While monopolies have a long history in the United States, their power has undoubtedly evolved beyond the reach of 20th century legislation. On Tuesday, November 15, 2022, entertainment giant Ticketmaster began to sell tickets for Taylor Swift’s tour, but their lack of preparedness led to long wait lines, system crashes, and legislators calling for an overhaul of the ever-powerful oligopoly.

Government addressing monopoly examples