Live Nation to open Ticketmaster to other sellers
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The DOJ has accused the live-entertainment giant of wielding outsized control over the industry, but the company’s lawyers claim it “did not have monopoly power” during opening statements
The Guardian reported that Ticketmaster collects an average of $7.58 per ticket sold at major venues. According to an analysis cited by Jonathan Hatch, a New York attorney, fans in the states seeking damages may have overpaid between $1.56 and $1.72 per ticket.
John Abbamondi, former CEO of the Barclays Center in Brooklyn, said his venue paid dearly for dropping Ticketmaster for SeatGeek.
NEW YORK (AP) — A U.S. Justice Department lawyer told jurors at a civil antitrust trial Tuesday that the concert industry is broken because Ticketmaster and its parent Live Nation Entertainment have monopolized the market, driving up prices for consumers, but the companies say the government’s wrong.
A federal antitrust trial against Live Nation and Ticketmaster could reshape ticketing, concert promotion and prices for fans.
A former Barclays Center executive took the stand as the first witness in a federal antitrust trial challenging Live Nation Entertainment’s market power, telling jurors he believes the Brooklyn arena lost out on concerts after ending its ticketing partnership with Ticketmaster.
A Justice Department lawyer has told a New York jury at the start of an antitrust trial that the concert ticket industry is broken because Ticketmaster and its parent company Live Nation Entertainment have monopolized the market,