There are calls to split Live Nation and Ticketmaster over an alleged monopoly, but Live Nation argues that makes minimal profits, and still has to fight for every deal it makes. ( read the full article on NME )
On Tuesday (March 3), Live Nation’s antitrust hearing began, with the US Justice Department accusing Live Nation of deploying a monopoly to dominate the ticketing market, and having “technology that is held together by duct tape”
Both Ticketmaster and its parent company, Live Nation, are accused of abusing their power in the live events market to create an illegal monopoly. The case, filed nearly two years ago, sees the DoJ allege that Live Nation has used the monopoly to stifle competition, dominate the ticketing market, and gain money from fans via high prices and surcharges.
It is also accused by the Department of Justice of requiring artists to use its concert promotion services if they want to perform at the venues it owns, as well as dominating ticketing services through threats and exclusive contracts with major concert venues that span over years.
The hearing began in Manhattan yesterday, and could result in the DoJ arguing for Live Nation and Ticketmaster to be separated – undoing the merger which has been in place for over 10 years – or the companies paying out compensation to ticket buyers.
