The lawsuit, filed in the U.S. District Court for the Southern District of New York, asserts the companies used their dominance over concert tickets to undermine competition for the ticketing of live events, driving up ticket costs for individuals.
The lawsuit asserts Live Nation and its subsidiary, Ticketmaster, violated the Sherman Antitrust Act by eliminating rivals and increasing barriers for other companies, creating an unlawful monopoly over the live entertainment industry. Live Nation merged with Ticketmaster in 2010.
Ticketmaster’s own internal documents claim it accounts for 70% to 80% of primary concert tickets in North America.
Ticketmaster’s own internal documents claim it accounts for 70% to 80% of primary concert tickets in North America.
Live Nation owns, operates or has significant influence over more than 250 venues in North America, including more than 60 of the top 100 amphitheaters in the United States.
It also has controlling interests in popular festivals around the country like Austin City Limits, Bonaroo and Lollapalooza.
In Washington, Live Nation manages the Gorge Amphitheater in George, RV Inn Style Resorts Amphitheater in Ridgefield and White River Amphitheater in Auburn. Live Nation generated more than $22 billion in revenue in 2023.
Because these companies have developed such a stranglehold over the live entertainment industry, the justice department and states seek to unwind their merger and separate the companies.
More information here
No comments:
Post a Comment
We encourage the thoughtful sharing of information and ideas. We expect comments to be civil and respectful, with no personal attacks or offensive language. We reserve the right to delete any comment.