By Evaristo Lara
May 23, 2024, 1:46 PM EDT
The United States Department of Justice and about 30 states sued Live Nation Entertainment Inc along with Ticketmaster, because they consider that it maintains a monopoly, which limits competition and causes increases in ticket prices for events.
The authorities consider that both companies have engaged in anti-competitive practices, including blocking venues under exclusive long-term contracts and retaliating against rivals and establishments seeking alternatives to counter such situation.
About, Jonathan Kanter, deputy antitrust attorney general, blamed the defendant companies for the bad times some live events are going through.
“The live music industry in the United States is broken because Live Nation Ticketmaster abuses its monopoly,” he said at a press conference.
According to the DOJ. Live Nation not only controls more than 265 concert venues in North America and manages more than 400 music artists, but it also markets at least 80% of the tickets to various concerts.
History in development…
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