The Department of Justice reportedly launched an antitrust investigation into the parent company of Ticketmaster after the events surrounding the entertainment conglomerate's system crash from earlier in the week, while attempting to accommodate the overwhelming demand for Taylor Swift "Midnights Tour" concert tickets.
As part of the probe, federal investigators are looking to see if Live Nation Entertainment abused its power within the live music industry, which brings in billions of dollars in revenue annually, according to the New York Times.
The Times also reports federal officials had been monitoring Ticketmaster and Live Nation Entertainment before the Swift fiasco, in which thousands of the pop singer's fans waited for hours to garner access to pre-sale tickets, and were repeatedly kicked off the Ticketmaster website.
As a starting point for the investigation, the Times reports that members of the DOJ's antitrust division have been contacting music venues and players in the ticket market, collecting information about Live Nation's business practices with concert events.
According to an anonymous source, the Times reports the details of the investigation are "sensitive," especially when it comes to Ticketmaster/Live Nation potentially engaging in monopolistic practices with venues and customers.
In a statement posted on her Instagram account, Swift — who recently became the first musical artist to own all top 10 spots on the Billboard charts — said it was "excruciating for me to just watch mistakes happen with no recourse."
Swift she said her team had been assured that ticket sellers would be able to weather the demand surge for concert tickets.
Ticketmaster "handled ticket sales for most shows" on the 20-city, 52-date U.S. stadium tour in 2023, according to the Times.
Also, Seat Geek reportedly sold tickets for select performances in Arizona and Texas.
The Times reported that officials from the Biden administration have been pushing the "boundaries" of antitrust law over the past 19 months.
The DOJ has attempted to block a number of major mergers, including the union of renowned publishing houses.
Also, the Federal Trade Commission previously sued to block Meta, Facebook's parent company, from acquiring a small virtual reality start-up.
© 2023 Newsmax. All rights reserved.