Justice Department says illegal monopoly by Ticketmaster and Live Nation drives up prices for fans

(23 May 2024)
RESTRICTION SUMMARY:

POOL
Washington – 23 May 2024
1. Walk up of Attorney General Merrick Garland and DOJ senior leaders
++WHITE FLASH++
2. SOUNDBITE (English) Merrick Garland, Attorney General:
“Earlier today, the Department of Justice, joined by 29 states and the District of Columbia, sued Live Nation Entertainment and its wholly owned subsidiary, Ticketmaster, for violating the Sherman Antitrust Act. In recent years, Live Nation Ticketmaster’s exorbitant fees and technological failures have been criticized by fans and artists alike. But we are not here today because Live Nation Ticketmaster’s conduct is inconvenient or frustrating. We are here because, as we allege, that conduct is anti-competitive and illegal."
++WHITE FLASH++
3. SOUNDBITE (English) Merrick Garland, Attorney General:
“The result is that fans pay more in fees. Artists have fewer opportunities to play concerts. Smaller promoters get squeezed out and venues have fewer real choices for ticketing services."
++WHITE FLASH++
4. SOUNDBITE (English) Merrick Garland, Attorney General:
“As detailed in our complaint, Live Nation suffocates its competition using a variety of tactics, from acquisitions of smaller regional promoters and venues to threats and retaliation to agreements with rivals designed to neutralize them.”
++WHITE FLASH++
5. SOUNDBITE (English) Merrick Garland, Attorney General:
“It is time for fans and artists to stop paying the price for Live Nation’s monopoly. It is time to restore competition and innovation in the entertainment industry. It is time to break up Live Nation Ticketmaster. The American people are ready for it.”
++EDIT ENDS ON SOUNDBITE++
STORYLINE:
The Justice Department filed a sweeping antitrust lawsuit against Ticketmaster and parent company Live Nation Entertainment on Thursday, accusing them of running an illegal monopoly over live events in America — squelching competition and driving up prices for fans.

The lawsuit, filed in federal court in Manhattan, was being brought with 30 state and district attorneys general and seeks to break up the monopoly they say is squeezing out smaller promoters and hurting artists.

The Justice Department accuses Live Nation of a slew of practices that allow it to maintain a stronghold over the live music scene, including using long-term contracts to keep venues from choosing rival ticketers, blocking venues from using multiple ticket sellers and threatening venues that they could lose money and fans if they don’t choose Ticketmaster. The Justice Department says Live Nation also threatened to retaliate against one firm if it didn’t stop a subsidiary from competing for artist promotion contracts.

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Author: admin