Urges Congress to respond to consolidation of ticket industry.
Impact
The resolution highlights not only the financial burden on consumers but also the broader impact on performers and small venue owners who find themselves disadvantaged in a market that heavily favors large corporations. The Assembly notes that the arts, entertainment, and recreation sector is vital to New Jersey's economy, contributing approximately $6.8 billion. However, the current practices associated with Live Nation and Ticketmaster have been reported to redirect major profits away from local performers and independent venues. The Assembly pushes for Congressional action to address these inequities and ensure fairer conditions in the ticketing sector.
Summary
Assembly Resolution No. 119 urges the United States Congress to intervene in the consolidation of the ticketing industry, specifically calling attention to the merger between Live Nation and Ticketmaster which has created significant market control. Given that this merger has resulted in these companies dominating over 70% of the ticketing market, the resolution emphasizes the detrimental effects on consumers, including inflated ticket prices and limited options for purchasing tickets at face value. It recognizes the long-lasting implications of such consolidation, especially in the wake of practices such as surge pricing and the imposition of excessive fees on consumers, further complicating their access to live events.
Contention
Notably, the resolution builds upon previous discussions in the United States Senate Judiciary Committee which explored these issues in depth during a hearing in January 2023. The concerns raised about Live Nation's alleged market abuses, including threats to withhold tours from competing venues, accentuate the contentious nature of this merger and its implications. Furthermore, the bill positions itself against a backdrop of ongoing complaints and investigations by authorities such as the U.S. Department of Justice, highlighting a legislative push not only to safeguard consumer rights but also to invigorate competition within the ticket industry.
Providing for commercial/industrial rooftop solar generation; establishing the Commercial/Industrial Rooftop Solar Program; and promulgating regulations.