How Live Nation and Ticketmaster have a monopoly on the live entertainment industry

  • 📰 CNBC
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 72%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Consumers are calling for the Live Nation and Ticketmaster monopoly to end. Here's how they became the dominant force in the live entertainment business.

"The Department of Justice alleged six issues in 2019 which led to our decision with them to extend the consent decree. We did not feel it made sense to be seen as defending the theories of retaliation or threats. It's not our business practice. It goes against our fundamental focus on alignment with the artists. The idea that we would ever put our interests ahead of theirs. So we are comfortable extending the consent decree," said Berchtold during Tuesday's hearing.

"In a world where the promoter and the venue are not affiliated with each other, we can trust that the promoter will look to get the best deal from the venue; however, in this case the promoter and the venue are part of the same corporate entity so the line items are essentially Live Nation negotiating to pay itself," Lawrence said.

"Ticketmaster has created these exclusive contracts, once you sign that contract, a band is not allowed to come in and say, 'we want to sell our tickets with X, Y, Z platform,'" said Jordan Cohen, one of the band's eight members.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Who gives a pooooop?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in CA

Canada Canada Latest News, Canada Canada Headlines