DOJ Files Antitrust Lawsuit Against Ticketmaster Owner Live Nation
In 2010, live-events giants Live Nation and Ticketmaster merged, forming a colossus of a company that everyone hates. It’s not a coincidence that concert ticket prices have skyrocketed since that merger. Over the past few years, the government has taken a few tentative steps toward regulating this massive corporation; just last week, the House Of Representatives passed a bill calling for transparency in ticket prices. Now, Joe Biden’s Department Of Justice have taken things further, filing an antitrust lawsuit that’s intended to break the company up.
The New York Times reports that the DOJ, joined by 29 states and the District of Columbia, filed the suit this morning. It accuses Live Nation of achieving its dominant position by locking venues into exclusive contracts, pressuring artists to use its services, and threatening other ticketing companies with retribution. “It is time to break up Live Nation-Ticketmaster,” Attorney General Merrick Garland said in a statement. Live Nation’s Dan Wall responded to the NYT that the company is not actually a monopoly, characterizing the government’s lawsuit as the result of political pressure. Per wall, the suit “ignores everything that is actually responsible for higher ticket prices, from increasing production costs to artist popularity, to 24/7 online ticket scalping that reveals the public’s willingness to pay far more than primary tickets cost.”
Last summer, there were reports that the Department Of Justice was considering a lawsuit like this one. Also last year, the Senate Judiciary Committee questioned the executives involved, including Live Nation’s Joe Berchtold and Ticketmaster’s Irving Azoff. Live Nation has attempted to defend itself with a PR blitz, and the company has pushed various laws that supposedly target exploitative secondhand retailers. But as Rolling Stone reports, the DOJ’s investigation has led it to finally take action against the company. If the suit is successful, it could potentially lead to huge changes in the ticket-retailing space. Fingers crossed.