April 16th 2024.
After several years of receiving numerous complaints regarding Ticketmaster's ticket-buying process, the United States Justice Department has finally decided to take legal action against its parent company. According to the Wall Street Journal, this action will come in the form of an antitrust lawsuit against Live Nation Entertainment, with plans to file as early as next month. The lawsuit could potentially accuse Live Nation of monopolizing the ticket market for live events and eliminating competition.
This decision comes after a series of complaints surrounding the sale of tickets for Taylor Swift's highly anticipated "Eras" tour in 2022. Many consumers voiced their frustration with Ticketmaster's dominant presence in the live event industry. In June of 2023, a hearing was held where senators criticized the company for their lack of transparency, complicated fee structure, and inability to prevent bot purchases of tickets for live events. Live Nation's president and CFO, Joe Berchtold, even issued an apology to Taylor Swift fans during the hearing.
The Justice Department has been reportedly preparing for this lawsuit against Live Nation, which is considered one of the largest concert and promotion companies in the country. As reported by @ChristineRomans, the details of this legal action have been shared by TODAY on April 16, 2024. However, fans have been skeptical about the potential outcome, as federal regulators had previously allowed Ticketmaster to merge with Live Nation under a settlement agreement back in 2010. In 2019, the DOJ accused Live Nation of pressuring venues to use Ticketmaster as their primary ticket seller. A revised agreement was made, but it still imposed restrictions on the company until 2025.
In response to the impending lawsuit, Live Nation published a blog post last month, where they shifted the blame onto artists and their teams for setting high ticket prices. Some analysts believe that the lawsuit will likely result in a settlement, as the DOJ is not targeting the company's business model but rather certain practices. However, fans are hopeful that this legal action could bring about much-needed changes in the live event industry and possibly return to a time when attending a concert didn't cost as much as your monthly rent.
One X user expressed their support, stating, "Good. They are ripping off customers so bad with their insane prices." Another added, "Should've been a class action lawsuit." It's no secret that fans and consumers are hoping for a positive outcome from this lawsuit, with the potential to hold Ticketmaster and Live Nation accountable for their actions. This news also brings to light the long-standing issue of ticket scalpers using bots to purchase tickets and resell them at a higher price, causing frustration and disappointment for many fans. Hopefully, this lawsuit will help bring about much-needed change and improve the overall experience for live event attendees.
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