US sues Ticketmaster for monopolizing live concert industry

US sues Ticketmaster for monopolizing live concert industry

Fans pay more in fees, smaller promoters get squeezed out, venues have fewer choices for ticketing services, says US Attorney General Merrick Garland

By Ovunc Kutlu

ISTANBUL (AA) - The US Justice Department announced Thursday it filed a civil antitrust lawsuit against Live Nation Entertainment Inc. and its wholly-owned subsidiary Ticketmaster LLC for monopolization of markets across the live entertainment industry.

The lawsuit seeks to restore competition in the live concert industry, provide better choices at lower prices for fans and open venue doors for working musicians and other performance artists.

The complaint, along with 30 state and district attorneys general, was filed in the US District Court for the Southern District of New York, it said in a statement.

"We allege that Live Nation relies on unlawful, anticompetitive conduct to exercise its monopolistic control over the live events industry in the United States at the cost of fans, artists, smaller promoters, and venue operators," said Attorney General Merrick Garland. "The result is that fans pay more in fees, artists have fewer opportunities to play concerts, smaller promoters get squeezed out, and venues have fewer real choices for ticketing services. It is time to break up Live Nation-Ticketmaster."

Live Nation owns or controls more than 265 concert venues in North America, including more than 60 of the top 100 amphitheaters in the US, generating over $22 billion globally in annual revenue from three business segments -- concerts, ticketing, sponsorship and advertising, according to the statement.

Kaynak:Source of News

This news has been read 92 times in total

UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
Previous and Next News