The Department of Justice and a group of State Attorneys General have officially filed the highly anticipated antitrust lawsuit against Live Nation and Ticketmaster. This move comes after significant political pressure on the DOJ to take legal action, along with a prolonged lobbying effort by competitors aiming to restrict competition and ticket resellers seeking government protection for their practice of buying concert tickets and inflating prices.
The complaint, especially during the press conference, tries to paint Live Nation and Ticketmaster as the culprits behind fan dissatisfaction in the live entertainment industry. While acknowledging that artists usually set or approve ticket face values, the lawsuit shifts the blame for high ticket prices onto concert promoters and ticketing companies, which do not have control over ticket pricing.
It overlooks the actual factors contributing to increased ticket costs, such as rising production expenses, artist demand, and the prevalence of online ticket scalping that demonstrates the public’s willingness to pay well above face value. The lawsuit faults Live Nation and Ticketmaster for high service fees and the existence of fees in general but fails to mention that Ticketmaster only retains a small portion of those fees. In reality, primary ticketing is considered one of the most cost-effective digital distribution channels in the economy. (www.chronicpainpartners.com)
The lawsuit against Live Nation and Ticketmaster is significant because it delves into the complex dynamics of the live entertainment industry. By targeting these major players, the Department of Justice and the State Attorneys General are aiming to address concerns about competition and pricing practices within the ticketing market.
It’s a case that highlights the intricate relationships between artists, promoters, ticketing companies, and fans, shedding light on the various factors influencing ticket prices and consumer experiences in the industry.
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