Live Nation to face antitrust lawsuit this week over live music monopoly accusations

live-nation-to-face-antitrust-lawsuit-this-week-over-live-music-monopoly-accusations
Live Nation to face antitrust lawsuit this week over live music monopoly accusations

Live Nation is facing an antitrust lawsuit from the US Department of Justice, which will file the charges this week. The lawsuit argues that Live Nation illegally monopolises the live music industry, benefiting from its ownership of Ticketmaster and exclusive ticketing contracts with concert venues, which it raises prices and fees for customers. Last April, Live Nation was reported to control 80% of US live music ticket sales since its 2010 Ticketmaster merger, and in February the company declared its largest year to date in 2023, citing a 13% increase in Ticketmaster sales and 32% increase in revenue.

If the lawsuit is successful, it could bring much-needed changes to the live events market. This is not the first antitrust lawsuit against Live Nation and Ticketmaster, as a class action lawsuit filed in 2022 was thrown out in February 2023, claiming that buyers had waived their right to sue the companies. In December 2022, Taylor Swift fans in the US also sued Ticketmaster over allegations of fraud, price fixing, and antitrust violations during The Eras Tour ticket pre-sale.

Live Nation has yet to release a statement regarding the DOJ lawsuit, while Dan Wall, head of corporate affairs, argued in April that Live Nation has more competition than ever. The DOJ lawsuit focuses on Live Nation’s alleged behaviour of illegally maintaining a monopoly in the live music industry, enforcing consumer price hikes and fees through its supposed dominance over concert tours and venue management

Read the full article on NME here: Read More