The Break Up Ticketmaster Coalition issued a blistering statement last week in the wake of Live Nation’s record Q3 earnings report, characterizing the entertainment giant as a fueling its record returns by harnessing “monopoly power run amuck.” The group is campaigning to see the Department of Justice take action against the Live Nation-Ticketmaster behemoth, hoping to pressure them to reverse the merger approval that was granted in 2010 amid copious evidence that the company is operating as an illegal monopoly.
“Despite what the analysts say, there is only one reason for Live Nation-Ticketmaster’s record profits this quarter: monopoly power run amuck,” the Break Up Ticketmaster Coalition said in a statement released on Friday after Live Nation reported earnings that were nearly 50% higher than their previous most profitable year in 2019. “Thanks to a merger in 2010, Live Nation-Ticketmaster has built an empire off of scamming consumers with bogus service fees, squeezing artists out of their hard-earned revenue, gatekeeping independent venue owners from the market if they don’t agree to Live Nation’s terms, and other restrictive practices. To build a vibrant, competitive live events market, the Department of Justice should listen to the thousands of fans, artists, and advocates that are urging them to break up this uncontrollable middleman.”
The campaign has caught on quickly with consumers, many of whom have seemingly grown tired of the enormous fees they face when shopping for tickets to live events, with no alternative marketplace to turn to. A petition that allowed those who support the efforts to spur action from DOJ has already seen more than 12,000 sign on in less than a month of activity.
— Sports Fans Coalition (@sportsfanorg) November 7, 2022
The Break Up Ticketmaster coalition is a broad group of advocates seeking to help consumers fight back against what they call a monopoly. Its main support comes from the American Economic Liberties Project, Artist Rights Alliance, Consumer Federation of America, Demand Progress, Fan Freedom, Fight Corporate Monopolies, Future of Music Coalition, More Perfect Union, National Consumers League, and Sports Fan Coalition. A video released at the launch of the campaign – “How Ticketmaster is Destroying Live Music” – has already been viewed 69,000 times in just three weeks.
Live Nation has not yet responded to the campaign, though it did issue a statement in support of President Biden’s indicating a desire to see the FTC better regulate the ticketing industry and all-in fees last week.
Those interested in learning more can visit the campaign’s home page here: https://www.breakupticketmaster.com/. The DOJ petition is available to read and sign-on at ActionNetwork.com
Last Updated on November 11, 2022 by Dave Clark