Ticketmaster antitrust case brings cash to frustrated concert-goers – The Irish Times

You could have sold tickets to this week’s US Department of Justice press conference, even if Ticketmaster sold them.

Actions are being prepared there to liquidate the parent company of Live Nation, which officials described as a monopoly that stifles competition.

“It is time to end Live Nation-Ticketmaster,” U.S. Attorney General Merrick Garland announced, sounding a tone that will appeal to many frustrated concert-goers.

It’s far too early to know what, if anything, this might mean for customers in Ireland, but it will be striking – online ticketing isn’t always popular.

In its latest annual customer service survey of Irish brands published by CX Company, Ticketmaster fell by 11 per cent, the second largest decline on record. CX CEO Cathy Summers put it down to problems with trying to purchase tickets for Taylor Swift and Coldplay. This can be “extremely frustrating for customers,” she said.

In Ireland, Live Nation also owns 3Arena, promoter MCD and various related companies. He is behind the Electric Picnic and Longitude festivals.

Reports filed earlier this year showed the Irish holding company lost €6.3 million in 2022, compared with a deficit of just €1 million the previous year when Covid-19 restrictions would have hampered its core business. Turnover for the year almost quadrupled to EUR 4.3 million.

Whatever event Irish people go to, there’s a good chance they went via Ticketmaster. In 2020, an investigation by the Competition and Consumer Protection Commission (CCPC) found that between 2012 and 2018 the entertainment company held over 90% of the Irish market.

And now U.S. authorities have accused Live Nation of running a monopoly there that “stifles competition” in a landmark antitrust case aimed at breaking it up. On Thursday, after this information was announced, the company’s shares fell.

“Fans pay more in fees, artists have fewer opportunities to play shows, smaller promoters are squeezed out and venues have less real choice in ticketing,” Garland said as a result of the dominance.

Live Nation Entertainment said the monopoly allegations are “absurd” but that this show will keep audiences.