Title: The Battle Against Monopolistic Control in the Concert Industry: A Look into Live Nation and Ticketmaster's Dominance
Lead: The concert industry has long been a source of frustration for music fans, with ticket prices skyrocketing and availability becoming increasingly limited. This issue can be traced back to two major players in the industry: Live Nation and Ticketmaster.
Paragraph 1: Live Nation, which manages over 400 musicians and handles 60% of promotions at major venues, owns 265 venues in North America including over 60 of the top 100 amphitheaters. Through Ticketmaster, Live Nation controls around 80% of venue primary ticketing for concerts. The exclusive contracts with venues and strong-arming tactics against competitors are at the center of a recent antitrust lawsuit filed by the Justice Department.
Paragraph 2: The history between Live Nation and Ticketmaster dates back to 1999 when Ticketmaster acquired Front Line Management, which managed bands like Pearl Jam and R.E.M., creating a conflict of interest in ticket sales for those artists. In response, Pearl Jam famously asked then-President Bill Clinton for help in their war against Ticketmaster.
Paragraph 3: Fast forward to the present day, and the situation remains largely unchanged with fans continuing to face high prices and limited availability. The Justice Department's lawsuit against Live Nation aims to break up this monopolistic control in the industry, but it remains to be seen what impact this will have on concert-goers.
Background: The concert industry has been a lucrative business for decades, with artists and promoters reaping significant profits. However, the dominance of Live Nation and Ticketmaster has led to concerns about fair competition and consumer protection. The Justice Department's lawsuit alleges that Live Nation used its market power to stifle competition in the ticketing industry.
Facts:
- Live Nation manages over 400 musicians and handles 60% of promotions at major venues.
- Live Nation owns 265 venues in North America including over 60 of the top 100 amphitheaters.
- Through Ticketmaster, Live Nation controls around 80% of venue primary ticketing for concerts.
- The exclusive contracts with venues and strong-arming tactics against competitors are at the center of a recent antitrust lawsuit filed by the Justice Department.
Sources:
- Washington Post: Pearl Jam asked Bill Clinton to take on Ticketmaster 30 years ago
- New York Times: The Emails at the Heart of the Government's Ticketmaster Case
- CNN: If Ticketmaster gets busted up by the feds, we'll have Taylor Swift to thank