The United States Department of Justice has filed a lawsuit this Thursday against Ticketmaster and its parent company Live Nation Entertainment whom he accuses of operating an illegal monopoly that inhibits competition and inflates prices for event tickets.
The lawsuit has been filed in federal court in Manhattan along with the attorneys general of several states and districts. It seeks to dissolve the monopoly that, according to the complaint, is suffocating smaller promoters and harming artists.
The Justice Department’s argument is that the company – which promotes concerts, manages ticket sales and owns some of the stages where the concerts are held. shows– has taken advantage of its dominant position to eliminate its competitors, which has allowed it to raise the prices of its services.
According to The Washington Postthe US Attorney’s Antitrust Office has investigated for two years Live Nation Entertainmentthe company that was born in 2010 from the merger of the promoter Live Nation and the ticket sales and distribution company Ticketmaster. At that time, the Department of Justice already studied whether the operation could go against the interests of consumers.
Service Ticketmaster has been the subject of public criticism for the tendency of its sales services to collapse. A year ago, Ticketmaster She has already been investigated by the prosecutor’s office and by a US Senate Commission for her management of the tour. Eras Tour of Taylor Swift. The pressure led the company to make its fee and commission structures transparent.
After the Department of Justice case was reported, the actions of Live Nation have fallen more than 6%.