The US Justice Department and almost 30 states sued
In a lawsuit filed Thursday in New York federal court, antitrust enforcers claim Live Nation and Ticketmaster have engaged in a variety of anticompetitive practices, including locking venues into long-term exclusive contracts and retaliating against rivals and venues that seek to use alternatives.
“The live music industry in America is broken because Live Nation Ticketmaster abuses its monopoly,” Assistant Attorney General for Antitrust
‘Ready for It’
“The American people are ready for it,” Garland added, sampling the title of a track from
Shares of Live Nation were down 7.4% to $93.94 at 1:15 p.m. in New York, a couple of hours after the suit was filed.
The suit was
Live Nation controls more than 265 concert venues in North America and manages more than 400 musical artists, according to the Justice Department. Overall, it controls at least 80% of major venues’ ticketing for concerts. The US says that has led fans to pay more in fees because “there are no other options.” Live venues fear they will lose concerts and revenue if they don’t work with Ticketmaster, according to the government.
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“It is well understood across the live concert industry, as a result of Live Nation’s historical conduct and exactly as Live Nation intended, that choosing ticketers other than Ticketmaster carries enormous risk and financial pain,” the Justice Department said in the complaint.
Live Nation said it would defend itself against the suit’s “baseless allegations.”
WATCH: The DOJ sues Live Nation. Source: Bloomberg
‘PR Win’
“The DOJ’s lawsuit won’t solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows,” the company said in a statement. “Calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term, but it will lose in court because it ignores the basic economics of live entertainment, such as the fact that the bulk of service fees go to venues, and that competition has steadily eroded Ticketmaster’s market share and profit margin.”
The suit is the fourth
Live Nation exerts control at every level of the live music ecosystem and needs to be broken apart for competition to flourish, senior Justice Department officials said. They declined to offer a figure for how much consumers were allegedly overcharged, saying that would be determined later in the litigation.
Antitrust enforcers allowed Live Nation and Ticketmaster to merge in 2010 subject to conditions. But that prior consent decree, “which addressed a claim different from those at issue here,” has “failed to restrain Live Nation and Ticketmaster from violating other antitrust laws in increasingly serious ways,” the Justice Department said in its complaint.
‘Entrenched’ Monopoly
The conduct at issue in the current case is broader, more recent and involves additional markets, said people familiar with the matter who asked not to be named discussing the department’s thinking.
Kanter said the consent decree involved one transaction, while the monopolization suit involves a “systemic and systematic pattern of conduct.”
“Some monopolies are so entrenched, and the problems so difficult to address, they require decisive and effective solutions,” he said.
Among its claims of anticompetitive conduct, the US cited Live Nation’s acquisition of a controlling stake in AC Entertainment, which co-produces the popular Bonnaroo Music & Arts Festival, to grow its “moat” in the Nashville market. The US says Live Nation has also exploited a relationship with Irving Azoff’s Oak View Group, with Ticketmaster executives scolding Oak View for seeking to compete for artist talent.
The Justice Department also referred to the company’s “sub-standard customer service.” There was
A bipartisan group of states and territories joined the Justice Department’s lawsuit, including Texas, Florida, California, New York and Washington, DC.
‘Economic Injustice’
“Live Nation imposed its dominance of the live concert industry by manipulating the marketplace — sending ripples of economic injustice throughout our state,” California Attorney General
When asked in an interview if plaintiffs would consider a settlement without breaking up the company, Bonta said, “No. We have proposed the breakup and the structural remedy because it’s appropriate and necessary. We want the divestiture.”
Ticketmaster, the largest US ticketing company, merged with Live Nation, the biggest concert promoter, 14 years ago following a lengthy antitrust investigation. The Justice Department required the combined company to pledge that it wouldn’t tie its services together or retaliate against venues that switched promoters or ticketing services.
In 2019, the Justice Department alleged that the company had violated that promise and entered a new settlement imposing an external monitor to ensure compliance and investigate any further disputes.
The Biden administration opened a
The case is US v. Live Nation Entertainment Inc., 24-cv-03973, US District Court, Southern District of New York (Manhattan).
(Updates with quote and shares.)
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