Calls have been mounting for the better part of two years for Live Nation and Ticketmaster to be taken to task for their ticketing practices and it looks like that moment has finally arrived.
BREAKING: The Justice Department plans to sue Live Nation/Ticketmaster for running an illegal monopoly over the ticketing industry.
This corporate monopoly charges too much for tickets, exploits venues, and hurts fans and artists.
The antitrust lawsuit is expected within weeks.
— More Perfect Union (@MorePerfectUS) April 15, 2024
The initial report comes from the Wall Street Journal.
The suit could come as soon as May and is being heralded already as an antitrust lawsuit that could force majors changes with Live Nation and it’s subsidiary, Ticketmaster. Calls have even gone out to break up the company.
The heart of the investigation is, of course, the debacle that was the presale for Taylor Swift’s “Eras Tour” in November 2022. The Ticketmaster website crashed when fan tickets went up for presale, and prices surged to astronomical prices.
Live Nation merged with Ticketmaster in 2010 and now holds 80 percent of the market for primary tickets sales, in addition to exclusivity rights to many stadiums and arenas.
