Ticketmaster, Live Nation face US suit over resale tactics
Summary
The Federal Trade Commission (FTC) and seven states have sued Ticketmaster and its parent company Live Nation. They accuse the companies of working with ticket brokers to resell concert tickets at high prices, which violated consumer protection laws. Ticketmaster and Live Nation have not yet responded to these allegations.Key Facts
- The FTC and seven states filed a lawsuit against Ticketmaster and Live Nation.
- The companies are accused of working with brokers to resell tickets at marked-up prices.
- These practices allegedly violated consumer protection laws.
- Ticketmaster supposedly made $3.7 billion from resale fees between 2019 and 2024.
- Ticketmaster controls about 80% of major concert venue ticket sales.
- The company faced criticism after issues during ticket sales for Taylor Swift's tour in 2022.
- The Department of Justice also sued Live Nation last year, claiming illegal monopoly tactics.
- A judge rejected Live Nation's attempt to dismiss antitrust claims earlier this year.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.