US sues in bid to break up Ticketmaster owner
US sues in bid to break up Ticketmaster owner
US sues in bid to break up Ticketmaster owner
The US Department of Justice has taken legal action against Live Nation Entertainment, alleging that the company has engaged in illegal practices to maintain a monopoly over the live music industry. The lawsuit claims that Live Nation's actions have resulted in the exclusion of competitors, leading to higher ticket prices and a decline in service quality for customers. Attorney General Merrick Garland has urged the courts to dismantle the company. In response, Live Nation has dismissed the allegations of monopoly power as 'absurd' and has argued that the lawsuit fails to address the actual factors contributing to higher ticket prices, such as online ticket scalping, artist popularity, and increased production costs. Live Nation, along with its subsidiary Ticketmaster, plays a multifaceted role in the industry by organizing concerts, selling tickets, and owning venues, effectively establishing itself as a 'gatekeeper'. The company's extensive reach includes ownership of over 250 venues in the US and management of approximately 60% of concert promotions at major venues nationwide. The lawsuit, which has been filed by the Department of Justice and 30 states, asserts that Live Nation controls around 80% of all major entertainment ticket sales through Ticketmaster.
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"The lawsuit alleges that Live Nation's practices have kept out competitors, resulting in higher ticket prices and worse service for customers."
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"The company, along with its subsidiary Ticketmaster, is involved in putting on concerts, selling tickets, and owning venues, effectively acting as a 'gatekeeper' for the industry."
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