ByThe Justice Department sued Ticketmaster and its parent company Thursday, accusing them of running an illegal monopoly over live events in America.give concertgoers, sports fan and theater patrons some relief from surging ticket prices?
State attorneys general - 30 of whom have joined the Justice Department's lawsuit - started probing Ticketmaster. The widespread social media outcry even led to a Senate hearing. Live Nation reported last month that worldwide ticket sales for the top 100 tours in 2023 jumped 46% compared with the previous year, bringing in $9.17 billion in sales. Attendance at Live Nation-produced events jumped 20% to a staggering 145 million last year.
The Justice Department's lawsuit alleges that having a giant company like Live Nation Entertainment exacerbates markups since it controls so much of the market.Live Nation and Ticketmaster which have long clashed with artists and fans, have always denied they act in a monopolistic manner. They say they aren't to blame for high ticket prices.
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