3/ Next is a NEW video from @MorePerfectUS, featuring @doctorow, that breaks down how Ticketmaster has weaponized its market power to bully its way to dominance.
4/ And BIG: we’re launching a letter writing campaign so YOU can tell the Department of Justice to investigate Ticketmaster’s market abuses. More on that later.
5/ In 2010, Ticketmaster, which already controlled 80% of ticketing, merged with Live Nation, the world’s largest operator of concert venues.
Ticketmaster CEO @Michael_Rapino told NYT that his goal was to turn Ticketmaster’s website into live music’s answer to Amazon.
6/ The merger went through. With total control over live music, Ticketmaster now rips off music fans, short changes artists and strong-arms venues, all because there is nowhere else to go.
That’s why you’re stuck with more junk fees, secondary markets, price-gouging, and more.
7/ But over the last few years, more and more people have gotten fed up.
Musician Marshall Moran says he realized that his lack of increase to his pay rate directly tracked with the merger.
8/ And he’s not the only one. Across the country, musicians are outraged with how Ticketmaster cuts them out of a core income source.
10/ Everyone except @Ticketmaster is upset with this deal. But luckily, @POTUS directed the antitrust agencies to reexamine old mergers.
Since we have 10+ years of evidence to prove the deal’s terribleness, @JusticeATR has an opportunity to investigate and unwind it.
11/11 Most importantly, YOU can take direct action right now by sending a letter to @JusticeATR.
If you’re fed up with high ticket fees and terrible service, follow the link below for an easy way to make your voice heard.⬇️ actionnetwork.org/letters/tell-t…
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1/ We often hear how government and politics are dysfunctional, rife with lobbyist control. But in one area - competition policy to deal with corporate power - things are quietly going…well. Follow along as we try to convince you. 🧵 economicliberties.us/press-release/…
2/ One year ago, @POTUS rightly acknowledged that the past 40 years of encouraging monopoly power has been a terrible error.
Emphasizing small business, workers, and consumers, he gave the most significant speech on monopolies by a US President since FDR.
3/ Biden then issued an executive order on competition, stating that dealing with corporate power isn’t just for the antitrust agencies but was a job for agencies all across the government. whitehouse.gov/briefing-room/…
There is a serious problem with foreign propaganda in the United States. However, we are concerned about reports that the Department of Homeland Security has put together a ‘Disinformation Governance Board.’
2/DHS has been at the center of some of nation's most heated debates, including questions on immigration and unwarranted surveillance.
Conservatives worry President Biden will use this board to deter speech of which he does not approve. But this concern should go both ways.
3/ Progressives might worry that under a President DeSantis or President Trump, DHS could also use the ‘Disinformation Governance Board’ to pressure dominant tech platforms to censor critical speech.
STARTING NOW: @FTC & @TheJusticeDept are kicking off their third listening forum.
This week, they'll hear from journalists, TV hosts + producers, musicians, and independent businesses on how mergers in the media & entertainment industry have impacted them.
Adam explains how a show he created, Adam Ruins Everything, was killed by AT&T’s acquisition of Time Warner.
"Why would a healthy television network with hit shows watched by millions of households voluntarily commit suicide? Well, the executives of the new mega corp proudly stated in the press that the *only* reason these cuts were made was because of the merger," @adamconover details.
The CEOs of the Big Four meatpacking corporations are testifying in @HouseAgDems on price discrepancies, transparency, and alleged unfair practices in cattle markets. Tune in 👇
Coy Young, a Cow/Calf producer, notes that farming and ranching has the highest rate of suicide of any industry, due to corporate concentration fueling shrinking profits for farmers… “There’s blood on the hands of the packers and Washington.”
"Meatpackers are leveraging their market power across multiple plants, further eroding true price discovery in the cattle markets," says Gilles Stockton, a cow/calf producer testifying.
💥 NEW: today, w/ Balanced Economy Project, we're releasing a new report by @denisehearn_ & @MichMeagher that examines the stakeholder capitalism movement and argues that its failure to embrace anti-monopoly principles is undermining its own objectives. economicliberties.us/our-work/stake…
2/ Stakeholder capitalism, popularized by @wef and theoretically embraced by the @BizRoundtable, seeks to create long-term value by attending to the interests of all corporate stakeholders rather than shareholders alone.
3/ Its proponents, which range from social activists to corporate titans, contend that profit and the protection of people and planet are inherently compatible.