Trump will claim this Live Nation settlement as a victory for music fans, but this backroom deal is anything but.
“This case was one of the biggest monopolies the world has ever known, that has 80 percent of the primary ticketing market for major concert venues, 40 to 50 top amphitheaters, 60 percent of promotion revenue at major concert venues, and a hugely high percentage of major sporting events — when you think about that monopoly, and you think about what this administration has been doing, [the settlement] wasn’t a surprise,” Sen. Amy Klobuchar told Rolling Stone.
So far, just seven of the nearly 40 states who signed onto the DOJ’s suit, have agreed to settle, while some AGs — such as New York’s Letitia James — have indicated their intention to keep pursuing cases against Live Nation. Several states also filed a motion to declare a mistrial, noting they were “unaware of any substantive settlement discussions” until after the jury was picked and the case began.
Live Nation hired MAGA lawyer Mike Davis and Kellyanne Conway, in addition to placing Kennedy Center bootlick Ric Grenell on their board last year.
Here’s August Brown in the L.A. Times:
The most important federal antitrust suit in live music may have just ended with barely a slap on the wrist.
The announcement that Live Nation has reached a settlement with the Department of Justice, resolving a years-long suit alleging anticompetitive practices, likely answers the biggest question facing the concert behemoth. The promoter will be allowed to keep Ticketmaster — the reviled, essential ticket-selling platform — as part of its portfolio.
With a fine equivalent to a few days’ revenue and some marginal changes to its business practices, Live Nation will, more or less, plow ahead as the dominant force in live music.
Staunch anti-monopolist Matt Stoller wrote:
It seems clear that the DOJ leaders don’t see what they did as a concession, they just don’t want to break up the company. Here’s a quote by a top DOJ official given to Ben Remaly of the Global Competition Review. “If the concern is that Ticketmaster operates as a monopoly, how does the American consumer benefit from an existing monopoly being offloaded to a third party… probably private equity.” My guess is that quote is coming from outside of the Antitrust Division. And it shows how they can’t imagine a non-dysfunctional economic order.
Ultimately, hanging over these proceedings is the specter of corruption. Live Nation retained well-known MAGA lobbyist and fixer Mike Davis, who was able to force the previous antitrust chief, Gail Slater, from office. Another Trump lobbyist, Kellyanne Conway, works for Ticketmaster. And the company donated $500,000 to Trump’s inaugural.
If you want to support live music, go see your local bands. At least you can see them without breaking the bank.
