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A market so free the DOJ had to step in
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Submitted 7 months ago by ForgottenFlux@lemmy.world to technology@lemmy.world
Comments
HauntedBucket@lemm.ee 7 months ago
Jackthelad@lemmy.world 7 months ago
If it was free, they wouldn’t be able to charge the ridiculous prices they do.
Crikeste@lemm.ee 7 months ago
Good. The market shouldn’t be free.
Jackthelad@lemmy.world 7 months ago
Yes. Everything should be monopolised and more expensive as a result.
Buelldozer@lemmy.today 7 months ago
This market isn’t “free” it’s been captured, often referred to as “cornered”, and this is precisely when the Government is supposed to get involved. The Government acts like a Boxing Referee; they step in and force the fighters to separate when one of them is trapped in the corner being pummeled with no way out.
This proper and necessary action is in no way a knock on Free Markets as it’s part and parcel of a Free Market. It’s how it all works.
TropicalDingdong@lemmy.world 7 months ago
Look I criticize the Biden admin a lot but this is something they’ve actually been pretty good on. I’d like to see more/ harder monopoly busting, but in its context its a big start.
TubeTalkerX@kbin.social 7 months ago
Great! I can't wait for my $2 off my next $150 "Cheap Seat" ticket while Live Nation "Accepts no Responsibly or Blame" and gets to stay in one piece.
IsThisAnAI@lemmy.world 7 months ago
I’ve received several hundred dollars via Sony and Google class actions. I see no reason why this one will be any different.
negativenull@lemmy.world 7 months ago
This isn’t a class action suit. This is anti-trust suit. Get different beasts
blazera@lemmy.world 7 months ago
One of those monopolies ive never understood, why do no artists use any other ticket service?
QuadratureSurfer@lemmy.world 7 months ago
Because Livenation/Ticketmaster have a hand in almost every step between the artist and their fans.
They either have exclusive deals already in place, or they even outright own parts of it.
The artist’s manager has contracts with them, they have contracts for concert promotion, and overall the vast majority of venues have exclusive ticketing contracts to only use Ticketmaster.
There are very few large venues that will even give artists the option of using a different ticketing service.
w2tpmf@sh.itjust.works 7 months ago
the vast majority of venues have exclusive ticketing contracts to only use Ticketmaster.
It doesn’t even end there. Live Nation has been buying up major venues all over the country.
Shirasho@lemmings.world 7 months ago
I may be misunderstanding how it all works, but the venues choose the ticket service, not the artists.
Imgonnatrythis@sh.itjust.works 7 months ago
Because they like their kneecaps too much. The DOJ hasn’t exactly been on top of this. The power live nation has accrued makes cable and telecom companies look like total sissies. This is casino bosses in early Vegas level shit they are pulling on a huge scale.
Maggoty@lemmy.world 7 months ago
What other service?
Rayspekt@lemmy.world 7 months ago
Pearl Jam tried this on the 90s from what I’ve read on the web but unfortunately it didn’t work out because the monopoly was already too strong.
homesweethomeMrL@lemmy.world 7 months ago
Hey look it’s Taylor Swift! For . . . some reason.
conciselyverbose@sh.itjust.works 7 months ago
The article implies a very public failure of Ticketmaster making tickets to her tour available is what sparked the investigation.
homesweethomeMrL@lemmy.world 7 months ago
Okay, so why not the head of Ticketmaster? Or the DoJ person? Swift is not involved in the case at any level, so.
Why a picture of her and not the people actually involved? You know why. Or you should know why.
dditty@lemm.ee 7 months ago
Ticketmaster came under increased scrutiny in this regard when scalpers crashed the site buying all the tickets to her Eras Tour.
RunningInRVA@lemmy.world 7 months ago
It’s because you like her….
Wait, you like her, right?
homesweethomeMrL@lemmy.world 7 months ago
Well sure but. Why not Metallica or Neil Young or Pearl Jam or Mr. Burns, or anyone else who actually took actions against Ticketmaster? Is it because they’re all gross old, and occasionally fictional men? It is.
5in1k@lemm.ee 7 months ago
About fucking time.
autotldr@lemmings.world [bot] 7 months ago
This is the best summary I could come up with:
The Department of Justice is preparing to file an antitrust lawsuit against Ticketmaster parent company Live Nation, according to a report from The Wall Street Journal.
The lawsuit could reportedly come as early as next month and will target the company’s alleged monopoly in the live ticketing industry.
Live Nation drew antitrust scrutiny when it merged with Ticketmaster in 2010.
But those concerns boiled over in November 2022 when a Ticketmaster crash blocked thousands of Taylor Swift fans from purchasing tickets for the Eras Tour due to “unprecedented demand.” The DOJ opened an investigation into Live Nation shortly after, The New York Times reported.
Lawmakers also levied heavy criticism against the ticketing company, with Sen. Amy Klobuchar (D-MN) calling Live Nation’s business practices the “definition of monopoly.” Although President Joe Biden announced last year that Live Nation and Ticketmaster have promised to get rid of hidden ticketing fees at checkout, Senator Klobuchar argued that the companies still aren’t doing enough.
In 2019, the Justice Department blocked Live Nation from coercing venues into using Ticketmaster and also extended its 2010 consent decree to ensure the companies comply.
The original article contains 251 words, the summary contains 186 words. Saved 26%. I’m a bot and I’m open source!
workerONE@lemmy.world 7 months ago
I read that they get artists to sign contracts which prohibit them from playing at venues that don’t have a contact w live Nation. So they use that as leverage to get venues to sign contracts else all of those artists will not play their venue
scripthook@lemmy.world 7 months ago
Didn’t Pearl Jam boycott Ticketmaster back in 1994 for similar things?
Disaster@sh.itjust.works 7 months ago
I recently had to hold my nose to see a band I’ve been following for a very long time.
The venue utterly sucked, treated like cattle, tighter security than getting on a plane flight. Pathetic.
Ticketmaster/livenation can go die in a fire.
Yeldarb12@toast.ooo 7 months ago
I’m totally fine with this. My only question is why taylor swift is the pic they chose for this?
tal@lemmy.today 7 months ago
Live Nation drew antitrust scrutiny when it merged with Ticketmaster in 2010. But those concerns boiled over in November 2022 when a Ticketmaster crash blocked thousands of Taylor Swift fans from purchasing tickets for the Eras Tour due to “unprecedented demand.” The DOJ opened an investigation into Live Nation shortly after, The New York Times reported.
phoneymouse@lemmy.world 7 months ago
Maybe it’s a factor of watching the bands you like become more popular, but 15 years ago I remember being able to get concert tickets for $10-50 bucks a pop after all the fees. $50 was ultra rare and you’d probably be seeing multiple bands in that scenario. Now, I can’t find tickets that don’t end up costing a minimum of $150 for nosebleed seats.
Bluefruit@lemmy.world 7 months ago
Bout time. Ticket master has been ruining venues and driving up ticket prices for years: cbs58.com/…/ticketmaster-accused-of-running-under…
Bob_Robertson_IX@discuss.tchncs.de 7 months ago
Venues have always sucked. Ticketmaster/LiveNation are trash corporations, but music venues have always been about doing things as cheaply as possible and providing the barest of minimal services.
While I do hate Ticketmaster with a passion, I have to admit that about 6 years ago I went to local venue that had been gobbled up by LiveNation and I was amazed at the transformations they had performed. Bathrooms had actual attendants, people whose job it was to keep the line moving. They would watch stalls and urinals and then tell the next person in line when one was free. Pavilion seating had wait service, so you didn’t actually have to get out of your seat to get an overpriced beer or food. The place was clean, fresh paint was on everything. I was at a concert at this venue last year and it still looked nice and these services hadn’t gone away.
I’m not saying that LiveNation should have the monopoly it has on live shows, but there has to be some kind of middle ground between keeping it fair, but also incentivizing venue owners to keep things looking nice and providing useful services.
cyborganism@lemmy.ca 7 months ago
Yeah, is called breaking up the company. Live nation can still do all this stuff if it breaks apart from its parent company. And it would encourage healthy competition and fairer prices.
treadful@lemmy.zip 7 months ago
Yeah, that’s how it works. The monopoly strangle the dependent company to force them to sell to you. “Vertical integration” they call it. Perhaps if the original owners had a reasonable cut of the money before , they could’ve provided better amenities.