The Department of Justice intervened to break the monopoly of the music industry: “Absurd”, Live Nation USA published on the case
OR United States government filed a lawsuit this Thursday, the 23rd, against the LiveNation, to break the monopoly of the live music industry in the country. For the Department of Justice, the merger between Live Nation and the company Ticket collector seeks to fend off competition, leading to higher ticket prices and worse service.
According to the head of the Justice Department’s antitrust unit, Jonathan Kanter, “the concert industry in the United States is in crisis because Live Nation-Ticketmaster has an illegal monopoly.” The lawsuit calls for Live Nation to sell Ticketmaster, the largest ticketing company in the United States.
According to the U.S. federal government, the company operates more than 250 venues in the United States and approximately 60% of the shows at major venues across the country. Furthermore, thanks to Ticketmaster, the group controls approximately 80% of entertainment ticket sales.
In a statement posted on Live Nation’s website, the company said the allegations were “absurd.” For the organization, the process “ignores everything that is really responsible for the increase in ticket prices”, such as high production costs and the popularity of the artists.
The action comes after strong demand for tickets Taylor Swift in 2022, which generated several problems for the public. With this, the Biden administration has opened a new antitrust investigation process.
Ticketmaster and Live Nation merged in 2010, creating a combined company with a market value of more than $2 billion. At the time the merger had the approval of the US Department of Justice itself.
Source: Terra
Earl Johnson is a music writer at Gossipify, known for his in-depth analysis and unique perspective on the industry. A graduate of USC with a degree in Music, he brings years of experience and passion to his writing. He covers the latest releases and trends, always on the lookout for the next big thing in music.
