News

Live Nation, Ticketmaster parent company, faces antitrust lawsuit

Live Nation, Ticketmaster parent company, faces antitrust lawsuit


Concerns include excessive fees, inflated ticket prices, poor customer service, and monopolizing the ticketing industry.

The U.S. Justice Department is reportedly preparing to file an antitrust lawsuit against Live Nation, Ticketmaster’s parent company. According to the Wall Street Journal, the lawsuit follows numerous complaints against Live Nation, with accusations of antitrust law violations.

Concerns include excessive fees, inflated ticket prices, poor customer service, and monopolizing the ticketing industry. The controversy escalated after the presale for Taylor Swift’s 2022 Era’s Tour when the Ticketmaster website crashed.

Live Nation and Ticketmaster, which merged in 2010, are now accused of dominating more than 80% of the primary ticket market in the United States. They allegedly maintain this dominance by partnering with the largest venues and establishing exclusive ticketing contracts with nationwide arenas and stadiums.

The lawsuit, expected to be filed next month, contends Live Nation and Ticketmaster have used their dominance to overshadow competitors. However, a Ticketmaster spokesperson denied these accusations. They claim the company faces more competition than ever and their venue agreements are not monopolistic.

This lawsuit may potentially affect a settlement agreement from the 2010 merger of Live Nation and Ticketmaster. After Live Nation violated this pact by pressuring venues to use its Ticketmaster subsidiary, antitrust enforcers extended the agreement until 2025, as reported by the Wall Street Journal.





Source link

Follow Us On

Categories

Daily Newsletter

Get all the top stories from Blogs
to keep track.

Scroll to Top