As much as it amuses me to hear armchair theories about how the ticketing industry operates, it eventually gives me a headache. As someone who has worked in the venues, most people have it all wrong. If you want a closer picture to the truth. You can go watch John Oliver's Videos on it where he has some decent inside sources that I agree with. Here are some points
1. Ticketmaster gets less than 4% of the fees or any cut from primary tickets
People don't understand that when your artist is selling your ticket with a million fees it's because the promoter, the venue, or the artist asked for it. If the promoting company and the artist are separate that means money changes hands to 4 DIFFERENT BUSINESSES. By focusing hate and lobbying on Ticketmaster, it falls exactly into the marketing and legal plan. It's a software company that makes a marketplace and venue management systems which a reputation of taking all bad press on it's client's behalf. That's part of the appeal.
2. Livenation is more of an issue than Ticketmaster. Livenation owns artists, owns venues, and owns ticketmaster. Ticketmaster actually operates on a loss in a lot of areas like sports just to corner the market. People want capital hill to go after some software vendor when they should be complaining about the people counting the dollars behind the scenes and laughing while their lobbyists/lawyers win on a technicality.
3. Ticketmaster Reselling drives the most hate (apart with fees). The arms race of bots is true. Ticketmaster used to actively fight resellers more, but over the years it has been better to concede with reselling companies (stubhub and the like) so they won't have their services be blown up. Most scalpers and companies are people who left ticketmaster. A junior engineer could spend a few years there and leave with enough info to get past the systems or with enough knowledge to play the systems. Over time, resellers have also built up a foothold with connections. A lot of sports teams, promoters and artists set aside tickets to resellers, telling ticketmaster to give presale tickets to other accounts. Everyone is in on it except for the fan. This is also why ticketmaster made it's own reselling markeplace. It wanted a slice since it. You're all being screwed. Ticketmaster is more than a ticketing system. It handles issues at a scale nobody else does. Even if another company will provide that service, will they also let you screw over the customer for more money (because the buyer if the venue paying for ticketmaster software, not the people getting the tickets), or will they offer personalized and tailored experience (Madison square garden might as well have it's own codebase at this point with the custom features).
4. Artists who don't play by their rules are shafted. Livenation and their venues doesn't care about you unless you agree to all their tactics.The artist's that complain that they are getting screwed over are either lying or don't want play ball, and likely get fucked over in deals or denied from the venue all together.
I could go on for days but if people want change they have to go after the top. You could kill ticketmaster and livenation could just replace it with a new software vendor.