Attendees of live music events have been warned about the potential financial implications of the Ticketmaster legal case.
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Recently, the US Department of Justice filed an antitrust lawsuit against Live Nation, the parent company of Ticketmaster. According to the lawsuit, in 2010, two prominent live events organizations merged, together overseeing about 80% of major concert venues.
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US Attorney General Merrick Garland made a bold statement last month, calling for the separation of Live Nation and Ticketmaster. Upon learning of the Department of Justice’s efforts to eliminate Ticketmaster’s reported monopoly on the industry, attorney Jeffrey B. Simon shared insights with The US Sun regarding the implications for consumers.
Simon objected that the coexistence of monopoly and capitalism was contradictory, emphasizing the need for antitrust regulations to protect fair market competition. He told the agency, “Putting aside the merits of the case at issue, there is no question that concert tickets have become too expensive.”
“Gone are the days when musical artistry at the most popular level could be heard and witnessed at an affordable price for salaried and hourly Americans.”
Following an overwhelming response from Taylor Swift’s loyal fans, Ticketmaster was forced to temporarily suspend general ticket sales for the singer’s highly anticipated The Eras Tour due to technical difficulties caused by unprecedented demand. This issue highlights the challenges posed by the company’s prominent position in the live events industry.
Swift even said at the time: “It pains me just to watch mistakes happen that can’t be fixed.”
“I’m really angry that many of these people feel like they’ve been through multiple bear attacks to get [tickets].”
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After waiting for up to eight hours, some Swifties were disappointed to discover that tickets were sold out.
Tickets to shows on Swift’s tour cost between $49 and $449, an aspect that Simon and the Justice Department are looking at closely.
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As expected 😌😌 thank you Ms. Taylor Swift
It’s hard to believe but this will actually lead to a chain reaction that will greatly affect music events & the music industry.
Live Nation has 360 deals with many artists through the joint venture Roc Nation and Artist Nation – interesting pic.twitter.com/l3YbPBoLgk
– Rational Observer (@rationalmode) May 24, 2024
In Simon’s view, the upcoming lawsuit’s ruling will significantly impact the future ticket purchasing experience at popular live events, potentially cementing Ticketmaster’s dominance in the market. Escalating ticket prices combined with exorbitant resale fees have burdened fans, leaving Simon concerned that ticket prices could rise further.
According to this expert, the potential impact of legal action on ticket price increases depends on the Department of Justice’s ability to prove that Ticketmaster’s business strategy is an illegal monopoly and the need to dismantle the company’s purported dominance of the live music sector.
“If DOJ is successful, the ticket resale market will become more competitive and thereby reduce ticket prices, at least for some interactive activities,” Simon explained to the agency.
“If the DOJ fails, Ticketmaster will appear bulletproof and more likely to prevail. In turn, the market will likely become less competitive and ticket prices will stay the same or increase.”
In addition to highlighting the financial impact on consumers, Simon also highlighted the potential reduction in stress caused by lawsuits related to ticket purchases.
Saying that the current process, with countdown timers and virtual queues, can lead to high levels of anxiety and an unsatisfying buying process, Simon emphasized the need to thoroughly evaluate ticketing methods.
Furthermore, he raised the issue of monopolistic influence in the ticketing sector, suggesting that addressing this issue could be beneficial.
He made valuable recommendations by suggesting the implementation of fairer queuing processes that provide transparent information about customers’ queue positions and expected wait times. Simon also emphasized the importance of reviewing pre-sale practices that often limit ticket availability to the public.
Simon believes these methods must be reevaluated to find a happy balance between recognizing dedicated fans and ensuring equal opportunities for everyone.
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Source: https://anhngunewlight.edu.vn
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