Monday, June 17, 2024

Feds accuse Ticketmaster of running an unlawful monopoly to inflate concert and sports ticket prices

US Department of Justice files lawsuit against Live Nation over ticketing monopoly

The US Department of Justice has taken a significant step in its fight against monopolies by filing a lawsuit against Live Nation, the parent company of Ticketmaster. This legal action comes after a thorough two-year investigation into Live Nation’s domination of the ticketing industry, with allegations of unlawful practices that have led to skyrocketing ticket prices.

The case, filed in the Southern District of New York, has gained the support of Justice Department officials and 30 state and district attorneys general. They are seeking a breakup of Live Nation and a jury trial to address the company’s alleged monopoly over live events in the US.

US Attorney General Merrick Garland expressed the purpose behind the lawsuit, stating, “The Justice Department filed this lawsuit on behalf of fans who should be able to go to concerts without a monopoly standing in their way. We have filed this lawsuit on behalf of artists who should be able to plan their tours around their fans, and not be dictated by an unlawful monopolist.”

Ticketmaster, controlled by Live Nation, holds more than 80 percent of the market for primary ticket sales in the US. The Department of Justice has accused the company of stifling competition and limiting customer choice through exclusive contracts with venues and other business practices.

Live Nation has denied the allegations, arguing that ticket prices are set by artists and teams, not by the company itself. The legal action follows a long-standing investigation into Live Nation’s business practices, which first came under scrutiny after its merger with Ticketmaster in 2010.

As the Biden administration continues its efforts to tackle monopolistic practices in various industries, the lawsuit against Live Nation marks another significant step in this ongoing battle. Fans and industry observers will be closely following the developments in this case as it unfolds in court.

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