Trapital
Why The Live Nation-DOJ Lawsuit Missed The Mark
Aug 12, 2024
Larry Miller, a professor at NYU Steinhardt and music industry expert, dives deep into the recent DOJ lawsuit against Live Nation and Ticketmaster. He critiques the lawsuit's focus, arguing it overlooks the intricate dynamics of concert pricing and market monopolization. The discussion highlights how major artists influence ticket prices and the challenges in balancing fair access for fans. Miller advocates for better regulatory approaches and innovative solutions, like DICE’s platform, to ensure fairness in ticket sales and reduce reseller impacts.
35:08
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Quick takeaways
- The DOJ's lawsuit against Live Nation may misidentify the core issues since breaking up the company won't necessarily lower ticket prices.
- Regulating secondary markets could enhance pricing fairness and accessibility for consumers, improving the overall live event experience.
Deep dives
Understanding the Live Nation Ticketmaster Lawsuit
The lawsuit brought by the Department of Justice against Live Nation Ticketmaster alleges monopolistic practices in the live concert industry and seeks to break up the two companies. The case highlights the complications within the ticketing and live event ecosystems, particularly the impacts of secondary markets that include platforms like StubHub and SeatGeek. These secondary market platforms can distort ticket pricing and availability, often leading to inflated costs for consumers. The discussion emphasizes the necessity of understanding the complex relationship between primary and secondary ticketing and how it affects fan experiences and market dynamics.
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