Brian Berry, executive director of the Ticket Policy Forum, a coalition of America’s leading ticket marketplaces and competitors to Ticketmaster, issued the following statement in response to news of a settlement between the Department of Justice (DOJ) and Live Nation-Ticketmaster:
“While we await the details of the settlement agreement, reporting indicates the DOJ has capitulated and the behemoth Live Nation has secured a token tap on the wrist. After a strong first week at trial, live event fans will continue to suffer with a settlement that will equate to less than a speed bump for the Live Nation-Ticketmaster monopoly, and may very well cement their power to control live events for years to come. Fortunately, state attorneys general can carry on with the case while local leaders have the power to protect their constituents and pass meaningful legislation to rein Live Nation-Ticketmaster in. It is time for them to act.
“Live Nation reported $25 billion in revenue and $500 million in profit last year, making the fines alone in the reported settlement extremely weak. We hope the details of the settlement prove otherwise, but if reporting is true, the only winners are Live Nation shareholders and the company’s lobbyists.
“The evidence presented during the first week of the trial showed that Live Nation doesn’t win on technology or service, but rather through fear and intimidation, costing fans, venues, and competitors untold millions each year.
“Thankfully, the opportunity to break up the Live Nation-Ticketmaster monopoly is not over. We are confident many state attorneys general will stay the course to hold this market manipulator accountable. Fans, artists, venues, promoters, and competing ticketing companies deserve a fair and competitive ticketing market, and what we have heard so far about the settlement will not deliver.”