Why Live Nation And Ticketmaster Dominate The Live Entertainment Industry

A monopoly is not illegal in the United States. But abuse of that power can be. On Jan. 24, the Senate Judiciary Committee held a hearing that explored whether Live Nation Entertainment, the consolidation of Live Nation and Ticketmaster, is hurting consumers by stifling competition. It is not the first time the company has come under fierce scrutiny. In 2019, the Department of Justice alleged Live Nation Entertainment violated its consent decree, the condition of the two companies’ merger, and the concert giant settled with the government. The current controversy was sparked in November when presale tickets for Taylor Swift’s Eras Tour were plagued by disruptions and slow queues, and the general public sale was canceled. A similar uproar occurred surrounding the sale of Bruce Springsteen tickets. Here’s a close look at why Live Nation and Ticketmaster are facing renewed antitrust scrutiny. Chapters: 1:56 - Controversies 4:34 - Market domination 7:32 - Monopoly 11:00 - Ticket prices 14:11 - What lies ahead Produced by: Emily Lorsch Edited by: Dain Evans Senior Managing Producer: Tala Hadavi Graphics by: Alex Wood Additional Footage: Vagabonding Media, Getty Images, Live Nation Entertainment
Wed, 25 Jan 2023 17:00:11 GMT
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