And, just like that, the U.S. government filed an antitrust lawsuit against Live Nation Entertainment. The implications could be significant for the music industry. Here are some key points to consider: 🥁 Increased competition could lead to more opportunities for new players to enter the market. 🎻 Leveling up the playing field for ticketing platforms may occur. 🎸 Transparency on ticket fees could become a norm. What do these implications mean for companies like SeatGeek? With more players entering the market, ongoing competitive monitoring programs will be essential. I am curious to see how companies adjust their strategies to thrive in this evolving landscape. #antitrust #musicindustry
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🚨 Competition watchdog accuses Ticketmaster/ Live Nation of anti-competitive practices in UK live music industry 🎤 Adele & Taylor Swift concert ticketing woes shed light on Ticketmaster's monopoly grip #dominance 💸 Fragile market dynamics post-pandemic lead to soaring ticket costs, worsened by Live Nation's dominance 🎟️ Live Nation and Ticketmaster deny monopoly claims, point fingers at venues and market rivals ⚖️ Legal battle looms as antitrust lawsuit unfolds, mirroring tech giants' ongoing regulatory challenges 🌐 Prepare for unfolding legal saga 🛡️ C-suite leaders and policymakers urged to safeguard consumer purchasing power and trust 📈 Actions include promoting market diversity, enforcing fair competition, and enhancing transparency 💡 Collaboration between industry stakeholders and regulators crucial for a balanced and competitive live music sector #CompetitionPolicy #ConsumerRights #RegulatoryReforms #Antitrust #LiveMusic #Monopoly #Dominance #ConsumerImpact #Pricing #Inflation #Squeeze #AntiCompetitive https://lnkd.in/eEgCy2v4
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Livenation (Ticketmaster) are reportedly facing an antitrust lawsuit from the US DoJ. Here’s why… “The potential lawsuit marks the latest chapter in a long-running saga of antitrust concerns surrounding Live Nation. The 2010 merger between Live Nation and Ticketmaster raised red flags from the start, with critics arguing that the combined entity would have excessive power over the live music industry, potentially leading to higher ticket prices and fewer choices for fans. Live Nation has since faced further criticism over its practices. A botched ticket sale process for Taylor Swift‘s Eras tour and controversial “platinum” ticket prices for Bruce Springsteen’s 2023 US tour, which left many fans frustrated, further fueled public discontent. Last November, the company was subpoenaed in a US Senate probe over “exorbitant ticket prices.” The Senate sought records related to Live Nation and its ticketing division Ticketmaster’s “failure to combat artificially inflated demand fueled by bots in multiple, high-profile incidents, which resulted in consumers being charged exorbitant ticket prices.” Live Nation, however, has been defending itself. In a recent 2,800-word blog post, the company argued that it and its subsidiary Ticketmaster “do not set ticket prices” — artists and teams do.” - Music Business Worldwide (MBW) #musicbiz #musicbusiness #livenation #news #musicnews #ticketmaster
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New Post: Executive Turntable: WMG Veteran Taking (Temp) Reins of Deezer; Merlin’s Promotion-palooza; New Mega House President - https://lnkd.in/gRCwmx3d - It’s time for another spindle around the Executive Turntable, Billboard’s comprehensive(ish) compendium of promotions, hirings, exits and firings — and all things in between — across music. For a summary of all the goings-on at UMG, scroll to the bottom. For everything else, read on! Deezer‘s search for a permanent replacement for the departing Jeronimo Folgueira is underway, but in the meantime the Paris-based streaming service has hired a ringer of sorts to keep the CEO seat warm. Stu Bergen, a 14-year veteran of Warner Music and longtime CEO of the label group’s international and global services division, has stepped in to serve as interim CEO until a new chief is found. Bergen, who left WMG in early 2021, has been a member of Deezer’s board of directors for more than a year and will remain there after the executive search is complete. “Stu’s in-depth knowledge of the music and digital industries, coupled with his tenure as a director on Deezer’s board, positions him perfectly to boost the company’s strategic direction and facilitate a seamless transition,” the company said this week, adding it believes Bergen is perfectly suited to guide them in its international expansion and boosting subscribers in key markets. The company recently posted positive financial results for 2023, with revenue up 7.4% to $524 million and an 11.5% increase in subscribers (thanks to business-to-business partnerships). ”I am honored to accept the interim CEO role at Deezer at this pivotal time,” Bergen said. “I am committed to strengthening the company’s values and driving its growth trajectory forward. With the dedicated team and clear objectives already in place, I am eager to lead us through this period of transition, ensuring the company is prepared for its ambitious future.” Related UMG’s East Coast Labels Reorganize as ‘Republic Corps’ With New Structure 03/15/2024 Merlin, the digital music licensing go-to for indies everywhere, announced an expansive run of promotions and role tweaks at the company. Over on the member and partner success teams, Emma Robinson ascends to senior director of member operations after six years of service; Daniele Yandel was promoted to senior manager of member operations after four years; four-year veteran Jo Danher is now senior manager of member relations; and Poppy Waring (seven years) and Shannon Bradley (three) both step up to senior manager of commercial partnerships. As for the finance fam, Vincent Moyo is promoted to director of commercial finance, four years in
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The problem here is a much larger one that permeates American society. When the marketplaces we build do not adhere to free-market principles they will fail systemically. Similar anticompetitive endeavors are omnipresent in technology innovation, the airline industry, the clothing industry, you name it. Government is responsible for establishing the theory that determines what can be discovered. We must establish a theory that determines the workings of all marketplaces, not just the Ticketmaster one. To go after one is the denial of a bigger governmental responsibility. Read up on an article on the subject I wrote in 2008 here: https://lnkd.in/efS3sXNe
Today, the Department of Justice sued to break up LiveNation/Ticketmaster for anti-competitive conduct that is taking money from fans, artists, and independent businesses. Thirty AGs joined the suit, including Ohio AG Yost. In late 2022, American Economic Liberties Project launched the Break Up Ticketmaster coalition, calling attention to the harms of this monopoly and allowing Americans to send a note directly to the DOJ urging them to break up this monopoly. Over 100,000 people took us up on it. LiveNation will argue that they have grown to be a monopoly because they are better, but the DOJ's suit makes clear this power has actually stemmed from exclusive contracts, coordinating with rivals, acquisitions to kill competitors, and bullying independent businesses. The result has been a "Ticketmaster tax" on all of us. As AAG Kanter said in his remarks today announcing the suit, "Music is the soundtrack of our lives," and everyone should be able to access it affordably. Break them up! #breakupticketmaster https://lnkd.in/g7xncwbk
Justice Department Sues Live Nation-Ticketmaster for Monopolizing Markets Across the Live Concert Industry
justice.gov
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"U.S. Calls for Breakup of Ticketmaster Owner Accused of violating antitrust laws, Live Nation Entertainment faces a fight that could reshape the multibillion-dollar live music industry. The Justice Department on Thursday sued Live Nation Entertainment, the concert giant that owns Ticketmaster, asking a court to break up the company over claims it illegally maintained a monopoly in the live entertainment industry." ..."the government accuses Live Nation of leveraging its sprawling empire to dominate the industry by locking venues into exclusive ticketing contracts, pressuring artists to use its services and threatening its rivals with financial retribution. Those tactics, the government argues, have resulted in higher ticket prices for consumers and have stifled innovation and competition throughout the industry. The suit asks the U.S. District Court for the Southern District of New York to order “the divestiture of, at minimum, Ticketmaster,” and to prevent Live Nation from engaging in anticompetitive practices." #Capitalism requires free and fair competitive markets & prices. And it demands #Accountability & #Justice for #Anticompetitive practices. I am really starting to like these folks at the Justice department, seems like they are quite busy! #Corruption #WhiteCollarCrime #TicketMaster #LiveNation #ArcOfJustice #BendItLikeBeckham
U.S. Calls for Breakup of Ticketmaster Owner
https://www.nytimes.com
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I’m extremely lucky to have attended more than 350 concerts in my life. Sometimes as a fan, others as a journalist. Here’s what I learned: Live entertainment has the power to bring together people from diverse backgrounds, forge lasting memories, inspire future generations of artists, and help creators build a fan base. Robust competition for ticketing services, music venues, and concert promotion drives positive experiences at fair prices. If you’d like to learn more about the DOJ/States’ lawsuit against Live Nation and Ticketmaster, read my analysis in #BloombergLaw
Live Nation’s Odyssey Through Past Administrations Won’t Help Now
news.bloomberglaw.com
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Ticketmaster and Live Nation are finally "facing the music" as the U.S. Department of Justice and 30 state attorneys general file antitrust charges against them. To help you better understand the case, Perkins Coie LLP traces the history between the Antitrust Division, Live Nation, Ticketmaster, artists, venues, promoters, and fans across the last three presidential administrations. #Ticketmaster #LiveNation #Antitrust #AntitrustLaw
Ticketmaster and Live Nation Face the Music | Perkins Coie LLP
perkinscoie.com
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Highlights from last week's 'Curating and Monetizing Exclusives for Your Superfan Community' panel for artists at Music Biz 2024 (feat. Sara Mertz, Tixr VP, Partnerships - Music) ⤵️ ✅ Value first: Always prioritize providing genuine value. Ensure what you're selling is unique and authentically resonates with both fan and artist. ✅ Engagement is key: Make fans feel seen and heard. Fans today see themselves as creators and integral parts of an artist's journey. ✅ Ticketing matters: Not all ticketing platforms are equal. Align with one that gives you multiple ways to engage, can sell more than just tickets, puts fairness first, and gets tickets to real fans. Drop us a comment with ways you've seen artists engage and monetize superfans successfully. #tixr #musicbiz2024 #ticketing #musicfans #venues
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Ticketmaster and Live Nation are finally "facing the music" as the U.S. Department of Justice and 30 state attorneys general file antitrust charges against them. To help you better understand the case, Perkins Coie LLP traces the history between the Antitrust Division, Live Nation, Ticketmaster, artists, venues, promoters, and fans across the last three presidential administrations. #Ticketmaster #LiveNation #Antitrust #AntitrustLaw
Ticketmaster and Live Nation Face the Music | Perkins Coie LLP
perkinscoie.com
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Ticketmaster and Live Nation are finally "facing the music" as the U.S. Department of Justice and 30 state attorneys general file antitrust charges against them. To help you better understand the case, Perkins Coie LLP traces the history between the Antitrust Division, Live Nation, Ticketmaster, artists, venues, promoters, and fans across the last three presidential administrations. #Ticketmaster #LiveNation #Antitrust #AntitrustLaw
Ticketmaster and Live Nation Face the Music | Perkins Coie LLP
perkinscoie.com
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Real Estate Developer, Entrepreneur and Podcast Host. Partner/JV/co-GP with owners to develop, finance and build properties. Helping high net-worth individuals invest passively in real estate development.
7moThat’s one monopoly I would love to break up. Usually I’m very pro business. But Ticketmaster has been gouging recently. And their fees got out of control.