The Justice Department on Thursday announced it has filed a suit against Ticketmaster’s L.A.-based parent company Live Nation Entertainment, seeking to break up the company over allegations that it created an illegal monopoly over the live entertainment industry.
The government, joined by 29 states and the District of Columbia, is accusing Live Nation of using its power to dominate the industry by forcing venues into exclusive ticketing contracts, and influencing artists to only use it services, threatening its competitors with financial retribution.
The lawsuit was first reported by Bloomberg.
Live Nation currently controls over 265 concert venues in North America and manages more than 400 musical artists, according to the Justice Department.
Live Nation released a statement Thursday in response to the suit. “The DOJ’s lawsuit won’t solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows,” the company said. “Calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term, but it will lose in court because it ignores the basic economics of live entertainment, such as the fact that the bulk of service fees go to venues, and that competition has steadily eroded Ticketmaster’s market share and profit margin.
“Our growth comes from helping artists tour globally, creating lasting memories for millions of fans, and supporting local economies across the country by sustaining quality jobs. We will defend against these baseless allegations, use this opportunity to shed light on the industry, and continue to push for reforms that truly protect consumers and artists.”
This is a developing story.
The Justice Department on Thursday announced it has filed a suit against Ticketmaster’s L.A.-based parent company Live Nation Entertainment, seeking to break up the company over allegations that it created an illegal monopoly over the live entertainment industry.
The government, joined by 29 states and the District of Columbia, is accusing Live Nation of using its power to dominate the industry by forcing venues into exclusive ticketing contracts, and influencing artists to only use it services, threatening its competitors with financial retribution.
The lawsuit was first reported by Bloomberg.
Live Nation currently controls over 265 concert venues in North America and manages more than 400 musical artists, according to the Justice Department.
Live Nation released a statement Thursday in response to the suit. “The DOJ’s lawsuit won’t solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows,” the company said. “Calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term, but it will lose in court because it ignores the basic economics of live entertainment, such as the fact that the bulk of service fees go to venues, and that competition has steadily eroded Ticketmaster’s market share and profit margin.
“Our growth comes from helping artists tour globally, creating lasting memories for millions of fans, and supporting local economies across the country by sustaining quality jobs. We will defend against these baseless allegations, use this opportunity to shed light on the industry, and continue to push for reforms that truly protect consumers and artists.”
This is a developing story.
The Justice Department on Thursday announced it has filed a suit against Ticketmaster’s L.A.-based parent company Live Nation Entertainment, seeking to break up the company over allegations that it created an illegal monopoly over the live entertainment industry.
The government, joined by 29 states and the District of Columbia, is accusing Live Nation of using its power to dominate the industry by forcing venues into exclusive ticketing contracts, and influencing artists to only use it services, threatening its competitors with financial retribution.
The lawsuit was first reported by Bloomberg.
Live Nation currently controls over 265 concert venues in North America and manages more than 400 musical artists, according to the Justice Department.
Live Nation released a statement Thursday in response to the suit. “The DOJ’s lawsuit won’t solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows,” the company said. “Calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term, but it will lose in court because it ignores the basic economics of live entertainment, such as the fact that the bulk of service fees go to venues, and that competition has steadily eroded Ticketmaster’s market share and profit margin.
“Our growth comes from helping artists tour globally, creating lasting memories for millions of fans, and supporting local economies across the country by sustaining quality jobs. We will defend against these baseless allegations, use this opportunity to shed light on the industry, and continue to push for reforms that truly protect consumers and artists.”
This is a developing story.
The Justice Department on Thursday announced it has filed a suit against Ticketmaster’s L.A.-based parent company Live Nation Entertainment, seeking to break up the company over allegations that it created an illegal monopoly over the live entertainment industry.
The government, joined by 29 states and the District of Columbia, is accusing Live Nation of using its power to dominate the industry by forcing venues into exclusive ticketing contracts, and influencing artists to only use it services, threatening its competitors with financial retribution.
The lawsuit was first reported by Bloomberg.
Live Nation currently controls over 265 concert venues in North America and manages more than 400 musical artists, according to the Justice Department.
Live Nation released a statement Thursday in response to the suit. “The DOJ’s lawsuit won’t solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows,” the company said. “Calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term, but it will lose in court because it ignores the basic economics of live entertainment, such as the fact that the bulk of service fees go to venues, and that competition has steadily eroded Ticketmaster’s market share and profit margin.
“Our growth comes from helping artists tour globally, creating lasting memories for millions of fans, and supporting local economies across the country by sustaining quality jobs. We will defend against these baseless allegations, use this opportunity to shed light on the industry, and continue to push for reforms that truly protect consumers and artists.”
This is a developing story.
The Justice Department on Thursday announced it has filed a suit against Ticketmaster’s L.A.-based parent company Live Nation Entertainment, seeking to break up the company over allegations that it created an illegal monopoly over the live entertainment industry.
The government, joined by 29 states and the District of Columbia, is accusing Live Nation of using its power to dominate the industry by forcing venues into exclusive ticketing contracts, and influencing artists to only use it services, threatening its competitors with financial retribution.
The lawsuit was first reported by Bloomberg.
Live Nation currently controls over 265 concert venues in North America and manages more than 400 musical artists, according to the Justice Department.
Live Nation released a statement Thursday in response to the suit. “The DOJ’s lawsuit won’t solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows,” the company said. “Calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term, but it will lose in court because it ignores the basic economics of live entertainment, such as the fact that the bulk of service fees go to venues, and that competition has steadily eroded Ticketmaster’s market share and profit margin.
“Our growth comes from helping artists tour globally, creating lasting memories for millions of fans, and supporting local economies across the country by sustaining quality jobs. We will defend against these baseless allegations, use this opportunity to shed light on the industry, and continue to push for reforms that truly protect consumers and artists.”
This is a developing story.
The Justice Department on Thursday announced it has filed a suit against Ticketmaster’s L.A.-based parent company Live Nation Entertainment, seeking to break up the company over allegations that it created an illegal monopoly over the live entertainment industry.
The government, joined by 29 states and the District of Columbia, is accusing Live Nation of using its power to dominate the industry by forcing venues into exclusive ticketing contracts, and influencing artists to only use it services, threatening its competitors with financial retribution.
The lawsuit was first reported by Bloomberg.
Live Nation currently controls over 265 concert venues in North America and manages more than 400 musical artists, according to the Justice Department.
Live Nation released a statement Thursday in response to the suit. “The DOJ’s lawsuit won’t solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows,” the company said. “Calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term, but it will lose in court because it ignores the basic economics of live entertainment, such as the fact that the bulk of service fees go to venues, and that competition has steadily eroded Ticketmaster’s market share and profit margin.
“Our growth comes from helping artists tour globally, creating lasting memories for millions of fans, and supporting local economies across the country by sustaining quality jobs. We will defend against these baseless allegations, use this opportunity to shed light on the industry, and continue to push for reforms that truly protect consumers and artists.”
This is a developing story.
The Justice Department on Thursday announced it has filed a suit against Ticketmaster’s L.A.-based parent company Live Nation Entertainment, seeking to break up the company over allegations that it created an illegal monopoly over the live entertainment industry.
The government, joined by 29 states and the District of Columbia, is accusing Live Nation of using its power to dominate the industry by forcing venues into exclusive ticketing contracts, and influencing artists to only use it services, threatening its competitors with financial retribution.
The lawsuit was first reported by Bloomberg.
Live Nation currently controls over 265 concert venues in North America and manages more than 400 musical artists, according to the Justice Department.
Live Nation released a statement Thursday in response to the suit. “The DOJ’s lawsuit won’t solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows,” the company said. “Calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term, but it will lose in court because it ignores the basic economics of live entertainment, such as the fact that the bulk of service fees go to venues, and that competition has steadily eroded Ticketmaster’s market share and profit margin.
“Our growth comes from helping artists tour globally, creating lasting memories for millions of fans, and supporting local economies across the country by sustaining quality jobs. We will defend against these baseless allegations, use this opportunity to shed light on the industry, and continue to push for reforms that truly protect consumers and artists.”
This is a developing story.
The Justice Department on Thursday announced it has filed a suit against Ticketmaster’s L.A.-based parent company Live Nation Entertainment, seeking to break up the company over allegations that it created an illegal monopoly over the live entertainment industry.
The government, joined by 29 states and the District of Columbia, is accusing Live Nation of using its power to dominate the industry by forcing venues into exclusive ticketing contracts, and influencing artists to only use it services, threatening its competitors with financial retribution.
The lawsuit was first reported by Bloomberg.
Live Nation currently controls over 265 concert venues in North America and manages more than 400 musical artists, according to the Justice Department.
Live Nation released a statement Thursday in response to the suit. “The DOJ’s lawsuit won’t solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows,” the company said. “Calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term, but it will lose in court because it ignores the basic economics of live entertainment, such as the fact that the bulk of service fees go to venues, and that competition has steadily eroded Ticketmaster’s market share and profit margin.
“Our growth comes from helping artists tour globally, creating lasting memories for millions of fans, and supporting local economies across the country by sustaining quality jobs. We will defend against these baseless allegations, use this opportunity to shed light on the industry, and continue to push for reforms that truly protect consumers and artists.”
This is a developing story.
