![]() It’s often their promoter, venue operator and ticketer. The band regularly interacts with Live Nation Entertainment. It's illegal for a business to establish or maintain a monopoly through improper conduct and not allow for others to enter the market.Ĭlyde Lawrence, a singer-songwriter in the New York City-based band Lawrence, testified during Tuesday's hearing. "If we made monopolies illegal on the basis of pricing above cost and generating monopoly profits for a firm, the concern would be that that would potentially stifle risk-taking and entrepreneurial activity," said Diana Moss, president of the American Antitrust Institute.Ībuse of a monopoly position is another matter. A monopoly occurs when a company holds exclusive possession or control of an industry. ![]() While Live Nation Entertainment arguably has a monopoly on the industry, a monopoly in itself is not illegal in the United States. In November 2022, The New York Times reported the DOJ is once again investigating the company. "It is absolutely our policy to not pressure, threaten or retaliate against venues by using content as part of the ticketing discussion," he added. So we are comfortable extending the consent decree," said Berchtold during Tuesday's hearing. The idea that we would ever put our interests ahead of theirs. It goes against our fundamental focus on alignment with the artists. We did not feel it made sense to be seen as defending the theories of retaliation or threats. "The Department of Justice alleged six issues in 2019 which led to our decision with them to extend the consent decree. After an investigation, in 2019 the DOJ made its most significant enforcement action of an antitrust decree in 20 years when it alleged Live Nation Entertainment violated that decree. Among other things, the purpose of that agreement was to forbid Live Nation from retaliating against a venue for using a ticketer other than Ticketmaster. When the Live Nation and Ticketmaster merger was approved in 2010, it was under the condition of a consent decree. It's also not the first time the Department of Justice has been reportedly looking into alleged misconduct by the company. This is not the first time consumers have called for the breakup of Ticketmaster and Live Nation. ![]() "As the leading player, we have an obligation to do better," said Joe Berchtold, Live Nation Entertainment president and chief financial officer, at the hearing Tuesday. The long wait lines and frozen screens sparked an uproar with fans, blaming Ticketmaster for ruining their chances to see the pop star. It's no secret that Taylor Swift fans were outraged in November 2022 when millions flocked to to grab tickets to see the heartbreak queen for the first time since 2018 and the website crashed. The two companies merged in 2010 and now control an estimated 70% of the ticketing and live event venues market. Live Nation Entertainment is composed of Live Nation, an events promoter and venue operator, and Ticketmaster, a ticket sales giant. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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