The Justice Department and a group of states are gearing up to sue Live Nation Entertainment, the concert giant that owns Ticketmaster, for allegedly maintaining a monopoly in the live entertainment industry. The lawsuit, expected to be filed as soon as Thursday, accuses Live Nation of using exclusive ticketing contracts with concert venues and its dominance over concert tours to stifle competition, raise prices, and limit innovation in the ticket industry.
Live Nation, a powerhouse in the concert world, sells 600 million tickets a year through Ticketmaster and handles ticketing for 70-80% of major concert venues in the US. Lawmakers, fans, and competitors have long accused the company of engaging in practices that harm rivals and drive up ticket prices and fees.
The impending lawsuit comes after the Justice Department found in 2019 that Live Nation had violated conditions laid out in a legal agreement when it acquired Ticketmaster in 2010. The latest investigation into Live Nation began in 2022, coinciding with the company’s increased lobbying efforts in Washington.
Critics of Live Nation argue that the company’s size and power have gone unchecked for too long, with former FTC chairman Bill Kovacic calling a potential lawsuit a rebuke of earlier antitrust officials who allowed the company to grow unchecked.
The lawsuit is expected to be filed in the Southern District of New York, and both the Justice Department and Live Nation have declined to comment on the matter. This legal action against Live Nation is part of a broader trend of regulators taking on major companies to address concerns about monopolistic practices and anti-competitive behavior in various industries.
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