Leadership / 04.01.18
Live Nation Rules Music Ticketing
Original article published on the New York Times (04/01/18) by Ben Sisario, Graham Bowley and Colin Moynihan
Live Nation continues to reign over the music ticketing industry eight years after its merger with Ticketmaster, with the subsidiary selling tickets to 80 of the top 100 arenas in the United States. Officials at the Justice Department are now looking into allegations of anti-competitive behavior by Live Nation, which is accused of exerting control over concert tours to force venues into contracting with Ticketmaster. Live Nation officials have responded that they never threaten or retaliate, and have dismissed the complaints as strategic and deliberate mischaracterizations by rival ticketers. Live Nation operates more than 200 venues globally, promoting about 30,000 shows worldwide last year and selling 500 million tickets. The company also counters claims that it is responsible for soaring ticket costs, noting that that trend precedes the Live Nation/Ticketmaster merger and is fueled by multiple factors that include artists' reliance on touring income amid diving record sales. Ticket fees comprise about half of Live Nation's earnings, while Ticketmaster says it no longer sets the final fee, only negotiating a set per-ticket charge. The remainder of the fee is added on by venues and sometimes promoters. Ticketmaster North America president Jared Smith contends competition is thriving, as seen in new technology and better deals that Live Nation must offer venues to keep them from switching to a rival.
Read the full story on the New York Times website.
Tags: Ticketmaster , News