The U.S. Justice Department, along with 30 state and district attorneys general, filed a lawsuit Thursday that seeks to break up Live Nation, alleging that the parent company of Ticketmaster is a monopoly that’s hurting competition in the live entertainment industry. (The Logic)
Talking point: Live Nation-Ticketmaster—which is headquartered in California and has been led by Canadian CEO Michael Rapino since 2005—said the lawsuit “ignores everything that is actually responsible for higher ticket prices, from increasing production costs to artist popularity, to 24/7 online ticket scalping that reveals the public’s willingness to pay far more than primary tickets cost.” The lawsuit alleges that the company forces U.S. consumers to use outdated technology and jacking up prices compared to other countries. The lawsuit follows outrage from Taylor Swift and her fans after Ticketmaster’s website crashed during the pre-sale period of the artist’s Eras tour, an issue the company attributed to bots. Swift fans have alleged it manipulated sales and boosted Ticketmaster’s profit.