Have you had a hard time buying concert tickets lately? Has someone you know been struggling trying to see their favorite artist?
From Taylor Swift to Bad Bunny to Beyoncé and beyond, when musicians go on tour, their fans usually have to go through one company. A company that keeps botching the process and making people pay through the nose. A company called Ticketmaster.
Now, you know me — when I see a story like this, I think about concentrated corporate power. So do you mind if I nerd out for a minute?
For decades now, the federal government has taken a hands-off approach to antitrust enforcement. Giant corporations have been allowed to buy out their competitors. They’ve been able to gain monopoly or near-monopoly power. And because they’re just about the only game in town, they’ve been able to hurt workers with lower wages and hurt consumers with higher prices, worse service, or both.
Exhibit A: In 2010, the government let Live Nation, a huge concert-promoting company, buy Ticketmaster, a huge concert-ticket-selling company. Together, they became a one-two punch of market dominance. And they’ve been pummeling fans, artists, and venues in the jaw ever since.
But here’s the thing: The federal government has the power to re-examine mergers like Live Nation’s purchase of Ticketmaster, break them up, and restore competition in the marketplace.
With high prices and terrible service, Ticketmaster shows the danger of corporate concentration. I’ve been calling to break up big monopolies, and the Biden-Harris administration is taking action, but we need to fight side by side as a grassroots movement to defeat powerful corporate interests. Add your name to say you’re in this fight.
Of course, corporate concentration goes way beyond concert tickets — it’s infested our entire economy. Big agribusinesses are crushing family farmers and jacking up prices for consumers. Big tech companies are elbowing out startups and using our private information for profit. Big airlines are getting away with higher fares for lower-quality service.
Pure and simple, the American people are suffering under the thumb of corporations that are just too big and too powerful.
I’ll keep calling on the administration to use all of its tools to fight back against corporate monopolies. I’ve also got a bill — the Prohibiting Anticompetitive Mergers Act — to ban the biggest, most competition-crushing mergers, restore competition, and bring down prices for consumers.
I’ll stay in the fight — but it’s only possible because I’ve got people like you fighting alongside me.
Add your name if you agree: It’s time to take on big corporate monopolies and level the playing field so they can’t get away with ridiculously high prices and ridiculously crummy service.
Thanks for being a part of this,
Elizabeth
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