The DOJ lawsuit won’t solve issues relating to ticket prices, service fees and access to in-demand shows, Live Nation says in an emailed statement.
- Believes the DOJ suit ignores causes of high ticket prices such as increasing production costs, artist popularity and 24/7 online ticket scalping
- Artist teams set prices for their tickets, while venues set and keep the majority of ticket fees
- Live Nation and Ticketmaster do not have monopoly power, statement says
- Says annual 1.4% annual net profits are the opposite of monopoly power
- Competition has eroded Ticketmaster’s market share and profit margin, statement says
- Resolves that would ...
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