‘The concert ticket industry is broken,’ justice department says as Ticketmaster trial begins
AI Summary
A trial has begun in Manhattan where the US Department of Justice and multiple states are accusing Live Nation and Ticketmaster of operating illegal monopolies in the concert industry. The lawsuit, filed in 2024, alleges that Live Nation's practices harm artists, venues, and fans by inflating ticket prices. Attorneys for the states argue that Ticketmaster's fees are higher than competitors, costing fans an estimated $1.56 to $1.72 per ticket. Live Nation denies these claims, asserting that it faces strong competition and only takes about 5% of ticket revenue. The trial, which could lead to a breakup of Live Nation and Ticketmaster or compensation for ticket purchasers, will include testimony from musicians and industry executives. The DoJ alleges Live Nation requires artists to use its promotion services if they perform at its venues and that Ticketmaster dominates ticketing through threats and exclusive contracts.
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