The Justice Department’s lawsuit against Ticketmaster and Live Nation could lead to breaking up Live Nation Entertainment, which controls 70% of the U.S. ticket market. Attorney General Merrick Garland aims to increase competition and reduce ticket prices, though changes won’t happen soon.
The lawsuit accuses Live Nation of monopolistic practices, like blocking competitors and threatening venues. This follows issues during Taylor Swift’s 2022 ticket sales, which highlighted flaws in the system and led to a Senate hearing.
Ticket prices have surged due to high demand post-COVID-19. Live Nation’s 2023 sales for the top 100 tours rose 46% from the previous year, with an average ticket price of $122.84. The DOJ claims Live Nation’s dominance worsens price hikes, but Live Nation denies monopolistic behavior and blames venue fees and competition.
The lawsuit could take years to resolve, and it’s part of broader efforts to tackle against monopolies.
