Sorry, Swifties. The Live Nation settlement won't help fans much
This is read by an automated voice.Please report any issues or inconsistencies here.
The most important federal antitrust suit in live music may have just ended with barely a slap on the wrist.The announcement that Live Nation has reached a settlement with the Department of Justice, resolving a years-long suit alleging anticompetitive practices, likely answers the biggest question facing the concert behemoth.The promoter will be allowed to keep Ticketmaster — the reviled, essential ticket-selling platform — as part of its portfolio.
With a fine equivalent to a few days’ revenue and some marginal changes to its business practices, Live Nation will, more or less, plow ahead as the dominant force in live music.How should fans feel about the settlement? The Times spoke to Bill Werde, the director of the Bandier Program for Recording and Entertainment Industries at Syracuse University, for insight on what this settlement means for angry music fans — and if it changes much at all for the live industry.Hollywood Inc.
Amidst the long-awaited trial, Live Nation settles the lawsuit from the Department of Justice.In the agreement, the ticketing giant is offering to pay millions, enforce price caps on fees and restructure its ticketing business with Ticketmaster.This suit could have split up the biggest company in live music.
Right now it looks like a win for Live Nation.What happens now for the company? There’s too much we don’t know right now.
The number one thing will be what happens with these state lawsuits.That’s a significant detail, because many of them are agreeing to go on with suits.
New York, California and Tennessee are some of biggest markets for live music in world, and that could change the calculus here enormously.What’s unclear is if these states believe they have a case to break up Live Nation and Ticketmaster, or if they’re just looking for their piece of a settlement.
But the biggest question all along has been if the DOJ will spl...