Justice Department Lawyer Says Ticketmaster Has Significant Market Share in Concert Ticket Industry

In Brief

Trial begins over allegations of Ticketmaster's market dominance and its effects on concert ticket pricing.

Key Facts

• A Justice Department lawyer stated the concert ticket industry is broken due to Ticketmaster and Live Nation Entertainment's market dominance, according to court testimony
• Ticketmaster and its parent company Live Nation Entertainment are defendants in an antitrust trial in New York
• The companies are accused by the Justice Department and multiple states of practices that may affect ticket prices for consumers
• An attorney for New York state told jurors that Ticketmaster keeps an average of $7.58 from each ticket sold at major venues, according to court statements
• Dozens of states are participating in the trial seeking damages related to concert ticket sales

What Happened

A trial began in New York where the Justice Department and multiple states allege that Ticketmaster and its parent company Live Nation Entertainment hold a dominant position in the concert ticket industry. The government and states claim this dominance has impacted ticket pricing and availability, as presented in court testimony. Evidence includes statements that Ticketmaster retains an average of $7.58 per ticket sold at major venues, according to attorneys involved in the case.

Why It Matters

The trial examines allegations of market dominance and its potential effects on competition and consumers in the concert ticket industry. The outcome may influence regulatory policies and industry practices related to ticket sales and pricing. It also reflects ongoing legal scrutiny of large entertainment companies' roles in the market. Claims regarding market monopoly and pricing impacts are based on allegations presented in court and have not been adjudicated. The $7.58 figure was presented by a New York state attorney during the trial.