An antitrust lawsuit was filed by the Justice Department against Ticketmaster and parent company Live Nation Entertainment accusing them of running an illegal monopoly over live events, hindering competition, and hiking prices for fans. The lawsuit filed Thursday was being brought with 30 state and district attorneys general pushing to break up the monopoly that’s phasing out promoters and affecting artists, the Associated Press reported.
However, rival ticket sellers have lamented that Live Nation makes it tough for them to disrupt the market with methods like withholding acts if those concert venues don’t agree to use Ticketmaster’s service.Citing data in a federal lawsuit from 2022, the Associated Press noted that Ticketmaster, which merged with Live Nation in 2010, is the world’s largest ticket seller, processing 500 million tickets each year in more than 30 countries. Around 70% of tickets for major concert venues in the U.
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