A federal jury in New York found Live Nation and Ticketmaster guilty of illegally monopolizing the live events and ticketing industry on April 15. The verdict caps years of legal battles and could force one of music’s most powerful companies to break up entirely. Here’s what you need to know. Continue reading
(PRNewsfoto/Live Nation Entertainment)
Live Nation /Ticketmaster have come under fire in recent years for what many concertgoers and bands decry as price fixing and artificially inflating ticket pricing, and scalping/reselling. The brand has been under investigation by the US Government after a major public outrage by fans after ticket fiascos such as Taylor Swift, Bruce Springsteen, Paul McCartney, and recently Blink-182. The United States Department of Justice and several states have officially filed a lawsuit against Live Nation Inc, citing alleged antitrust violations at least in part due to the market dominance of the company’s Ticketmaster unit.
“We allege that Live Nation relies on unlawful, anticompetitive conduct to exercise its monopolistic control over the live events industry in the United States at the cost of fans, artists, smaller promoters, and venue operators,” U.S. Attorney General Merrick Garland said in a statement. “The result is that fans pay more in fees, artists have fewer opportunities to play concerts, smaller promoters get squeezed out, and venues have fewer real choices for ticketing services. It is time to break up Live Nation-Ticketmaster.”