The lawsuit alleges Live Nation violated the Sherman Antitrust Act via exclusive deals, competitor acquisition, and venue intimidation.
Photo Credit: Nainoa Shizuru on Unsplash
Live Nation, Ticketmaster’s parent company, is facing a lawsuit from the U.S. Department of Justice (DOJ) and 30 states over alleged market monopoly. The lawsuit accuses Live Nation of violating the Sherman Antitrust Act, which prohibits monopolization and anti-competitive agreements. Live Nation owns 250 venues, manages approximately 60% of major venue concert promotions, and handles about 80% of ticket sales for major events.
Attorney General Merrick Garland claims Live Nation’s industry dominance results from illegal activities like exclusive deals, acquiring potential competitors, and intimidating venues using competing ticket platforms. These actions, according to Garland, have suppressed smaller promoters and decreased performance opportunities for artists.
Live Nation rebuts these allegations, stating its market share is decreasing and its modest 1.4% profit margin does not indicate monopoly power. The company also believes the lawsuit will not address fans’ main concerns such as ticket prices and access to high-demand shows.
Attorney General Garland’s full speech is available on CNBC. You can watch it below.
