Live Nation has published a comprehensive explanation addressing ticket pricing concerns and regulatory scrutiny, written by EVP of corporate and regulatory affairs Dan Wall. The document aims to clarify several key points about ticket pricing in the entertainment industry.

Key Points About Ticket Pricing:

• Artists and teams, not Live Nation, set ticket prices
• Venues determine service charges, with most fee revenue going to venues
• Ticketmaster's commission rate is 7%, significantly lower than other digital marketplaces
• High ticket prices primarily result from supply and demand, not corporate practices

Regulatory Context:

• Live Nation faces an ongoing Justice Department antitrust investigation
• The Senate recently subpoenaed the company for alleged "stonewalling"
• Congress questioned the company about "all-in pricing" practices
• February 2024 brought new document requests from regulators

Wall specifically addressed criticism about Live Nation's market influence, stating that claims about the company keeping ticket prices high are "flat wrong." He emphasized that even major artists like Taylor Swift work with other promoters, citing her relationship with AEG's Louis Messina.

The company's stock (NYSE: LYV) remains strong, trading at $99.19 per share, near its 52-week high, despite ongoing regulatory challenges.

Related Articles

Previous Articles