Comment on If you resold Taylor Swift Eras Tour tickets, the IRS is watching — A new rule from the IRS is punishing those who resold tickets for more than $600 in profit with a tax penalty

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timmy_dean_sausage@lemmy.world ⁨1⁩ ⁨year⁩ ago

To add a bit more context to this for the unaware: LiveNation is the umbrella Corp that owns TicketMaster as well as over 70% (IIRC) of the live music industry in the U.S. They’re making a killing on tickets, alcohol sales, backend software licensing, and many different artist/event management firms. They also pay their employees the lowest wages relative to the rest of the live music industry, which was already a vastly underpaid industry before Live Nation came to power in the 2010’s. Further, the CEO’s salary increased by 1000% between 2019 and 2023 while the peasants got a meaningless raise from pre-inflation starvation wages to post-inflation starvation wages. They’re the epitome of an exploitative monopoly, at every level.

Source: Current part time employee of LiveNation and 14 year veteran of the live music industry.

A list of their subsidiaries: …livenationentertainment.com/…/dex211.htm?TB_ifra…

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