US Department of Justice (DOJ) officials filed an antitrust lawsuit against concert promoter and ticket seller Live Nation (LYV) on Thursday, making the case...
) on Thursday, making the case that Live Nation created a monopoly through its ownership of Ticketmaster that ultimately resulted in inflated ticket prices . Live Nation has refuted these claims in a statement, saying Ticketmaster 's service fees are no higher — if not lower — than on competing ticketing websites.
And that is for um most of the thirties, 19 forties, fifties, sixties, um, antitrust law is really governed by a mindset that was underpinned by what, what lawyers would call structuralism, which is big firms are bad.And what happened in the eighties nineties, you know, until today really has really been the price theory of competition, which says that unless a firm causes consumer prices to rise, it's not really anti competitive.
And then when you, when you check out, when you actually buy the ticket, you're gonna see all of these fees.And what most of that money goes to is the, the rental fee for the venue.So at the end of the day, you check out you're going to pay as a consumer, 100 and $40 live Nation's total revenue is a dollar for promoting the concert and about $6 for ticketing the concert.
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