I'm not sure this is wholly surprising, considering the craziness surrounding event ticketing over the past year and how long this has been on people's radar, but the federal government is stepping in. There's nary a person who has escaped the claws of the ticket fiascos over the years. It'll be interesting to see if it meets the definition of "monopoly".
U.S. to go after Live Nation, price gouging
U.S. to go after Live Nation, price gouging
Quote:
The agency is preparing to file an antitrust lawsuit against the Ticketmaster parent in the coming weeks that would allege the nation's biggest concert promoter has leveraged its dominance in a way that undermined competition for ticketing live events, according to people familiar with the matter.
Quote:
the company has faced accusations of exorbitant ticket fees, flawed customer service and anticompetitive practices from lawmakers, regulators and state attorneys general.
Quote:
Ticketmaster now holds more than 80% of the market for primary ticket sales in the biggest venues in the U.S. It has exclusive ticketing contracts with many of the stadiums and arenas where high-profile acts perform.