Write a 10-12-page analytical paper on the market structure and impact of Ticketmaster/LiveNation.
Fans trying to purchase tickets for Taylor Swift’s “Eras Tour” when they became available on Ticketmaster on November 15, 2022, faced tough hurdles. Ultimately, 2.4 million people were successful, but the process was rocky and fraught with obstacles and technical problems. Though Ticketmaster apologized and explained2 , the fallout has sparked backlash from fans, performers, and even the U.S. Senate.3 This and earlier, similar issues has some journalists, politicians, and commentators questioning the Federal Trade Commission and Department of Justice’s role in approving the Ticketmaster/LiveNation merger in 2010 and monitoring firm compliance. Bruce Springsteen and Pearl Jam have also tangled with Ticketmaster in the past.
What insights can economics offer about the underlying economic dynamics of this industry? Your task in this senior seminar paper is to use concepts and models from microeconomics and relevant subfields of microeconomics to assess and explain the situation and its economic consequences. You will need to carefully define the industry.
You may wish to consider some (not all) of the following questions or take your own direction:
This paper must include both a literature review and an analysis portion. Draw on scholarly articles and economic models and concepts for the backbone of your paper.