US Justice Department Says Ticketmaster Monopoly Has Broken Concert Ticket Industry

In Brief

Justice Department alleges Ticketmaster and Live Nation monopolize ticket market, raising prices.

Key Facts

• A Justice Department lawyer told a New York jury that Ticketmaster and Live Nation have monopolized the concert ticket market
• The monopolization is claimed to have driven up prices for consumers
• Ticketmaster keeps an average of $7.58 from each ticket sold for events at major concert venues
• Dozens of states are involved in the trial seeking to recoup damages for concertgoers
• The trial began with allegations that the concert ticket industry is broken due to Ticketmaster's market dominance

What Happened

The Justice Department initiated an antitrust trial in New York, accusing Ticketmaster and its parent company Live Nation Entertainment of monopolizing the concert ticket industry. The trial involves multiple states seeking damages, with testimony highlighting Ticketmaster's control over ticket pricing and revenue shares from major venues.

Why It Matters

The case could impact how concert tickets are sold and priced in the United States, potentially leading to regulatory changes or penalties for Ticketmaster and Live Nation. It addresses concerns about market competition and consumer costs in the entertainment industry.