Allegations of Monopoly and Harm to Fans, Musicians, and Rival Companies

The U.S. Department of Justice (DOJ) is gearing up to file an antitrust lawsuit against Live Nation, the parent company of Ticketmaster.  According to a report by the Wall Street Journal, the agency alleges that the ticketing juggernaut has a monopoly on the industry that harms fans, musicians and competing companies. Additionally, Live Nation stockholders have a law firm investigating the claims because stock shares values dropped over 10% since Tuesday. 

For festival fanatics like us, this lawsuit could have significant implications. If successful, it might lead to **reduced fees** for festival and concert tickets. But, Live Nation is pushing back on this accusation. In a 2023 hearing, Joe Berchtold, president and CFO of Live Nation, said that “in most cases, venues set service and ticketing fees.”

Interestingly, it was the “Swifties,” Taylor Swift’s fans that brought the business practices of Live Nation to the attention of the DOJin November 2022. Her fans sued Live Nation for “unlawful conduct” after a debacle with ticket availability for her 2023 “Eras” tour.

Live Nation and Ticketmaster merged in 2010, making it the largest entertainment company in the world. What do you think about this potential lawsuit?