Will the Ticketmaster antitrust lawsuit make it easier for people to get tickets?
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 24 May 2024
⏱️ 8 minutes
🧾️ Download transcript
Summary
The Justice Department is suing Live Nation, the parent company of Ticketmaster, saying that it violated antitrust law. Live Nation controls at least 80% of box office sales at major concert venues, and owns or controls more than 60% of large amphitheaters in the U.S. Yet we may not know the upshot of the lawsuit for consumers for quite some time. Also: a look inside the wide world of indie video games.
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Transcript
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| 0:00.0 | My name is Lee Hawkins. I've been a journalist for over 25 years. On my new |
| 0:08.8 | podcast, What Happened in Alabama, I get answers to some of the hardest questions about how things |
| 0:15.4 | came to be for many black Americans and the truth that must come before any reconciliation can |
| 0:21.6 | happen. I investigate my family history, my upbringing in |
| 0:26.2 | Minnesota and my father's painful nightmares about growing up in Alabama. What happened |
| 0:32.1 | in Alabama is a new series confronting the cycles of trauma for myself, |
| 0:37.0 | my family, and for many black Americans. |
| 0:40.0 | Listen now. Can a business work if you don't care about the |
| 0:55.0 | Can a business work if you don't care about the customer? I'm David Brancaccio in New York. |
| 0:57.0 | First, we continue to follow the news that the U.S. Justice Department |
| 1:01.0 | in almost 30 states are suing Live Nation, parent of Ticketmaster, saying |
| 1:05.4 | it allegedly violated antitrust law. |
| 1:08.6 | The goal is to break up the company, but would this make it easier for people to get tickets to events big and small? |
| 1:14.0 | Marketplace's Nancy Marshall Ginsor takes a look. |
| 1:17.0 | The Justice Department says fans pay more in fees because Live Nation is a monopoly |
| 1:22.0 | controlling at least 80% of box office sales at major |
| 1:25.6 | concert venues, and owning or controlling more than 60% of large amphitheaters in the U.S. |
| 1:32.0 | Live Nation also promotes performances. |
| 1:34.1 | DoJ says as a result of all this, fans are forced to use outdated technology and pay |
| 1:40.1 | higher ticket prices than concert goers in other countries. |
| 1:43.8 | The Justice Department says it's trying to restore competition and give fans, quote, |
| 1:48.0 | better choices at lower prices. |
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