Ticketmaster’s Monopoly on the Ticket and Live Venue Market

Ticketmaster is notorious for their fees that make no sense, wild prices, and what feels like a monopoly on the whole concert ticket industry.

Thanks to the wild ticket prices and coverage by the media, Ticketmaster is currently being investigated by the United States Department of Justice.

A monopoly is when one company or person owns an alarmingly large share of the market and has essentially no competition.

Ticketmaster had humble beginnings in the mid-1970s. It started out small before quickly gaining ground in the 1980s.

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They would move on to acquire other companies, change their name, and perform other various business things throughout the years.

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In the early 2000s, Ticketmaster acquired TicketWeb Inc. They’d eventually begin lobbying states to stop people from being able to resell tickets.

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Ticketmaster merged with Live Nation to form Live Nation Entertainment in 2010. Live Nation Entertainment began to tighten its grip more on the ticketing industry worldwide.

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This meant if an artist wanted to have a concert at a Live Nation venue, they had to agree to sell their tickets on Ticketmaster, where they could set whatever price they wanted.

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Ticketmaster’s Monopoly on the Ticket and Live Venue Market

Ticketmaster is notorious for their fees that make no sense, wild prices, and what feels like a monopoly on the whole concert ticket industry.

Thanks to the wild ticket prices and coverage by the media, Ticketmaster is currently being investigated by the United States Department of Justice.

A monopoly is when one company or person owns an alarmingly large share of the market and has essentially no competition.

What is a Monopoly?

Ticketmaster had humble beginnings in the mid-1970s. It started out small before quickly gaining ground in the 1980s.

The Beginnings of Ticketmaster

They would move on to acquire other companies, change their name, and perform other various business things throughout the years.

In the early 2000s, Ticketmaster acquired TicketWeb Inc. They’d eventually begin lobbying states to stop people from being able to resell tickets.

Ticketmaster merged with Live Nation to form Live Nation Entertainment in 2010. Live Nation Entertainment began to tighten its grip more on the ticketing industry worldwide.

Merger with Live Nation

This meant if an artist wanted to have a concert at a Live Nation venue, they had to agree to sell their tickets on Ticketmaster, where they could set whatever price they wanted.

Swipe up to read the full post!

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