The US Justice Department, along with 30 state and district attorneys general, has filed a lawsuit against Ticketmaster and its parent company Live Nation, alleging an illegal monopoly in the live events industry in the United States, Associated Press reports.
The lawsuit aims to dismantle the monopoly, which is accused of stifling competition, raising ticket prices, and harming artists and smaller promoters. Ticketmaster, which holds a dominant position in the market, is accused of using tactics such as long-term contracts and threats to maintain its control over concert promotion and ticketing. Ticket buyers have been burdened with numerous fees, leading to increased costs for attending events. The lawsuit suggests breaking up Live Nation and Ticketmaster as a potential solution to lower ticket prices, provide artists with more options in choosing venues, and enhance the success of smaller promoters.
Ticketmaster has denied the allegations, arguing that the lawsuit ignores the economics of the live entertainment industry. This legal action reflects the Biden administration’s aggressive stance on antitrust enforcement, targeting companies accused of monopolistic practices.
