Recently, former Maine Attorney General Drew Ketterer offered his insights on the historic lawsuit against Live Nation Entertainment and its subsidiary Ticketmaster for its monopolistic control over the ticketing and music industry.
Ketterer concluded that action from the Department of Justice to file a lawsuit against the merged company was a step in the right direction and points out that regardless of political affiliation market manipulation should not be tolerated:
Consumers now have hope that the Justic Department lawsuit will finally address this issue. Thirty state and district attorneys general of both parties joined the Justice Department’s lawsuit. This is an entirely appropriate move that is in the best interest of consumers.
Notably, Ketterer lays out the historic significance of this lawsuit and how a discussion around their monopoly dates to 2009 when many stakeholders warned the DOJ that the acquisition could be problematic. He also details the undeniable facts of Live Nation’s growth to the monopolistic giant it has become today:
“Live Nation can get away with these business practices because of its overwhelming size across all segments of the live events industry. The Justice Department says Ticketmaster accounts for about 80 percent of the primary ticket market and also commands 20 percent to 25 percent of the resale market. In addition to primary and secondary ticketing, Live Nation owns or controls 265 concert venues in North America …”
This will continue until the Justic Department stops Live Nation from weaponizing exclusivity arrangements, limits the use of restrictive technology, and develops new solution that create meaningful chance in the live event ticketing marketplace.
Click here to read his full piece in the DC Journal.