As we have stated on a number of occasions in the past, Live Nation takes its responsibilities under antitrust laws seriously and will not engage in conduct that could warrant antitrust litigation, let alone any order that would require a change in fundamental business practices.
The concert promotion business is highly competitive, with artist management choosing its own promoter team. The demand for live entertainment continues to grow and there are more promoters than ever to partner with artists to help them connect with fans through live shows. The Department of Justice itself recognized the competitive nature of the concert marketing business at the time of the merger of Live Nation and Ticketmaster. This dynamic has not changed.
Ticketmaster has a significant share of the primary ticketing services market due to the large gap that exists between the quality of the Ticketmaster system and the next best primary ticketing system. Nonetheless, the market is becoming increasingly competitive with competitors making aggressive offers to venues. That Ticketmaster continues to lead in such an environment is a testament to the platform and those who operate it, not anti-competitive business practices. 5 years ago tickets were paper, now you scan with your phone and transfer tickets to your friend with a tap. We innovate and invest in our technology more than any other ticketing company, and we will continue to do so.
Second ticket sales are extremely competitive, with Ticketmaster competing with StubHub, SeatGeek, Vivid, and many others. It cannot seriously be argued that Ticketmaster has a market position in secondary ticket sales that supports antitrust claims.
For the past 12 years, Live Nation has operated under a Consent Decree which aims, among other things, to prevent the anti-competitive use of content promoted by Live Nation for the benefit of Ticketmaster. Under the amended executive order, which was voluntarily signed into law in 2020, Live Nation’s compliance will be overseen by a former federal judge. There was and is no evidence of systematic violations of the Consent Decree. It is still against Live Nation’s policy to threaten venues that they will not receive Live Nation shows if they do not use Ticketmaster, and Live Nation will not redirect content in retaliation for a lost ticket sale.
Ticketmaster is also the most transparent and fan-friendly ticketing system in the United States. Ticketmaster does not set or control ticket prices, strongly advocates all-in pricing so fans are not surprised at what tickets really cost, and is the undisputed leader in ticket security and the fight against bots. Ticketmaster also does not accept deceptive and questionable secondary ticketing practices prevalent on competing sites such as: B. speculative ticketing.
We’re proud of the work we do in both concerts and ticketing and will continue to work to improve and support the live events industry.