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After the high profile antitrust caseThe United States Department of Justice said on Monday that it was a difficult operation stability and Ticketmaster and its parent company, Live Nation.
After merging in 2010, Live Nation and Ticketmaster jointly control the majority of ticket sales and bookings in the US, leaving the ability to choose but work with these companies. Customers have been weary for years of price manipulations that can drive up ticket prices thousands of dollars (usually without asking the artists), and the way to buy tickets – sales for Taylor Swift’s Eras tour were like that. very difficult that he initiated a government investigation.
According to and APthe settlement would have forced Live Nation to pay up to $280 million in fines and leave at least 13 venues to give competitors more leverage. But several countries’ Attorneys General involved in the case were not happy with the settlement.
“The settlement recently announced by the US Department of Justice fails to address the victims of this lawsuit, and will benefit Live Nation and consumers,” said New York Attorney General Letitia James. words. “We can’t accept it.”
Twenty-six of the thirty attorneys general who sued the company along with the DOJ chose to contact Attorney General James to continue suing Live Nation.
Washington’s attorney general, Nick Brown, said the settlement “does not adequately address” the issue of concertgoers.
“For too long, Live Nation has made billions from products that have made it difficult for consumers to see their favorite artists, disrupted artists, and increased ticket prices for many music fans,” he said.
The case dragged on for a week before the DOJ and Live Nation agreed to settle the case. However, some interesting evidence emerged from the case.
John Abbamondi, former CEO of the NBA’s Brooklyn Nets and Barclays Center (where the Nets play), spoke about the decision he made in 2021 to work with another ticketing company, instead of Ticketmaster.
A phone call between Abbamondi and Live Nation CEO Michael Rapino was played in court, and according to The New York Timesthe recorded stories were objectionable and “profane.”
Almonds he told the jury last week Rapino responded to calls that he interpreted as “a veiled threat — maybe not a veiled threat” that Live Nation would put on fewer concerts at Barclays Center because of ticket changes.
Live Nation report last month that it sold more than 646 million tickets last year and staged more than 54,000 events worldwide. In the US, Live Nation has 150 venues and invested $1 billion last year to rebuild 18 music venues.
