
The Justice Department and 30 states launched an antitrust lawsuit against Live Nation yesterday in a bid to break up the country's largest concert promoter and ticket seller. The suit alleges Live Nation and its subsidiary Ticketmaster wield a monopoly to reduce competition and increase prices for customers.
Live Nation and Ticketmaster merged in 2010 under a DOJ consent decree. The conglomerate now controls 70% of the ticketing and live events market, manages over 400 music artists, and owns or operates over 260 concert venues. The lawsuit alleges Live Nation uses its stakes across these business areas to leverage fees from one area to dominate others—including by setting exclusive contracts with venues—in a "flywheel" cycle. In response to the lawsuit, the company argued its profit margins are low and its market share is in decline.
The company came under fire in November 2022 after mishandling presales for Taylor Swift's now-historic Eras Tour, where no tickets were left for general sales.
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