Attendees of live music events received caution about the potential financial implications of the Ticketmaster legal case.
Recently, the US Department of Justice filed an antitrust lawsuit against Live Nation, the parent company of Ticketmaster. According to the lawsuit, in 2010, the two prominent live event organizations merged, collectively overseeing approximately 80% of major concert locations.
US Attorney General Merrick Garland made a bold statement last month, calling for the separation of Live Nation and Ticketmaster. Upon learning about the Department of Justice's efforts to dismantle Ticketmaster's reported monopoly in the industry, attorney Jeffrey B. Simon shared insights with The US Sun concerning the implications for consumers.
Simon opposes that the coexistence of monopolies and capitalism is contradictory, emphasizing the necessity of antitrust regulations to safeguard fair market competition. He told the outlet, "Setting aside the merits of the case at issue, it's a no-brainer that concert tickets have become way too expensive."
"Gone are the days when musical art at the most celebrated level can be heard and witnessed at an affordable price by wage and hour Americans."
Following an overwhelming response from Taylor Swift's loyal fans, Ticketmaster was forced to halt the general sale of tickets for the singer's highly-anticipated The Eras Tour due to technical difficulties caused by unprecedented demand. This issue highlighted the challenges posed by the company's prominent position in the live events industry.
Swift even said during the time, "It was excruciating for me to just watch mistakes happen with no recourse."
"It really infuriated me that a lot of them feel like they went through several bear attacks to get [tickets]."
After enduring long waits of up to eight hours, some Swifties were disappointed to discover tickets had run out.
The tour tickets for Swift's tour performances ranged in price from $49 to $449, an aspect that Simon and the Department of Justice are examining closely.
READ ALSO: Taylor Swift Emotional in Liverpool After Joe Alwyn Speaks Out on Split
As expected 😌😌 thank you Ms Taylor Swift
— Rational Observer (@rationalmode) May 24, 2024
It’s hard to believe but this will actually lead to a chain reaction that will affect music events & the industry so much
Live Nation has 360 deals with many artists through its joint venture Roc Nation and Artist Nation - interesting pic.twitter.com/l3YbPBoLgk
In Simon's view, the upcoming lawsuit's verdict will significantly influence future ticket-purchasing experiences at popular live events, potentially solidifying Ticketmaster's dominance in the market. The escalating costs of tickets, coupled with the exorbitant fees on resale tickets, have already burdened fans, leading Simon to fear that ticket prices may further increase.
According to the expert, the potential effect of the legal action on soaring ticket costs hinges on the Department of Justice's ability to demonstrate Ticketmaster's business strategies as an illicit monopoly and the necessity of dismantling the company's purported dominion in the live music sector.
"If the DOJ is successful, the resale ticket market should become more competitive, and thereby lower ticket prices, at least for some engagements," Simon explained to the outlet.
"If DOJ fails, Ticketmaster will seem bulletproof and likely become more dominant. In turn, the marketplace would likely become less competitive and ticket prices would remain status quo or increase."
In addition to highlighting the financial implications for consumers, Simon has also underscored the potential stress reduction resulting from the lawsuit regarding ticket purchasing.
Stating that the existing process, with its countdown timers and virtual queues, can lead to high anxiety levels and a dissatisfying buying process, Simon emphasized the need to evaluate the ticket sales method thoroughly.
Furthermore, he raised the issue of monopolistic influence within the ticketing sector, suggesting that addressing this could be beneficial.
He made a valuable recommendation by proposing implementing more equitable queuing processes that offer transparent information regarding a customer's queue placement and anticipated wait durations. Simon also highlighted the importance of reexamining presales practices that frequently limit ticket availability to the general public.
Simon said that these methods must be reassessed to find a harmonious balance between acknowledging dedicated fans and guaranteeing equal opportunities for everyone.
