The US Department of Justice has filed an antitrust lawsuit in opposition to live performance ticket vendor Ticketmaster. He allegedly abused his market energy and charged exorbitant ticket costs.
The lawsuit, filed Thursday in federal court docket in New York, accuses Ticketmaster and mother or father firm Live Nation Entertainment of abusing their market place to boost ticket costs and drive rivals out of the market. “It’s time to interrupt up Live Nation,” stated Attorney General Merrick Garland.
He accused the corporate of exercising “autonomous management over the dwell occasions business by way of anti-competitive habits, on the expense of followers, artists, small promoters and venue operators.” The lawsuit additionally accuses Live Nation of utilizing threats and retaliation in opposition to native staff to discourage them from working with rivals.
Live Nation denies the allegations
Live Nation denied the allegations and criticized that the lawsuit “doesn’t tackle points essential to followers relating to ticket costs, processing prices and entry to in style occasions.” While the lawsuit helps the Justice Department obtain “short-term PR success,” it would fail in court docket as a result of it ignores the “primary financial viability” of the business.
Ticketmaster has been criticized within the USA for many years for its service charges and ticket charges. The debate concerning the firm’s market dominance was fueled in November 2022 as a result of chaos of the pre-sale of the tour of the pop star Taylor Swift. At that point, the corporate skilled a server crash.
Ticketmaster was acquired by Live Nation in 2010, which grew to become a world big within the dwell occasions business. Last 12 months, Live Nation reported gross sales of $22.7 billion. (sda/afp)
This might also curiosity you: