Live Nation Corporation accused of neglecting to halt unauthorized resellers on Ticketmaster platform
In a significant move, the Federal Trade Commission (FTC) and seven states have filed a lawsuit against Live Nation Entertainment, Inc. and its subsidiary Ticketmaster, alleging illegal ticket resale practices. The lawsuit accuses the companies of failing to curb large-scale ticket resale operations, automatic bots, and purchase limits, and of working with scalpers to turn a profit. The FTC claims that this conduct violates antitrust and consumer protection laws. At the heart of the issue is Ticketmaster's use of a system called TradeDesk, intended to monitor high volume ticket buyers and track those who exceed purchase limits and hold numerous accounts. However, allegations suggest that the system is not functioning properly, allowing some buyers to bypass restrictions and purchase large quantities of tickets. The lawsuit also alleges that Ticketmaster has a monopoly on digital ticket marketplaces through its parent Live Nation. The FTC claims that the company has been 'triple dipping' its profits by collecting fees from brokers on the primary market, brokers on the secondary market, and concertgoers. The complaint estimates that consumers have paid around $16 billion in fees due to this system, and have violated the 2016 Better Online Ticket Sales (BOTS) Act. An internal review showed that just five brokers controlled 6,345 Ticketmaster accounts and possessed 246,407 concert tickets to 2,594 events. A senior Ticketmaster executive, Steven R. Faber, reportedly admitted in an internal email that the companies turn a blind eye to brokers' violations of posted ticket limits. The FTC's statement mentions this admission as evidence of the companies' disregard for consumer protection laws. The lawsuit seeks to stop Live Nation and Ticketmaster from engaging in these allegedly illegal practices, as well as to provide refunds to consumers who have been affected. The companies have yet to respond publicly to the allegations. This development comes at a time when the live event industry is already grappling with the challenges posed by the COVID-19 pandemic. The outcome of this lawsuit could have significant implications for the industry and consumers alike.
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