DoJ Whacks Ticket Prices

This summer, a lot of us (and our children) will be packing our tents and heading to music festivals and concerts - there is trouble brewing. At one end, good luck buying a ticket and watching those fees add up. At the other end, the DoJ threw down the gauntlet and argued that Live Nation Ticketmaster needs to be broken up. This is big for music, and it’s also big for anti-trust - they’ve actually picked a fight and we’re ringing the bell for round one. Gloves off, where might there be punches below the belt. What can markets learn when the DoJ enters the ring?

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More on Will Page at: https://pivotaleconomics.com

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Bubble Trouble: The Live Nation Antitrust Case

In this episode of Bubble Trouble, Independent Analyst Richard Kramer and Economist Will Page delve into the intricacies of the Live Nation antitrust case brought by the DOJ. They explore the history of antitrust regulations, Live Nation's market dominance, and the implications for the live music industry. The discussion covers topics such as the control of ticketing, venues, and artists by Live Nation, the bundling of services, and the economic impact on smaller venues. The hosts debate the potential outcomes of the case and critique the inefficiencies in the current ticketing system, especially the Ticketmaster app. They also touch on broader issues in live music, including the decline of small venues and the impact of social isolation on festival attendance.

00:00 Introduction to Bubble Trouble

01:16 Part One

01:46 Understanding Antitrust and Live Nation's Market Power

03:59 Live Nation's Business Model and Market Impact

16:00 Part Two

17:15 The Ticketmaster Experience: A Consumer's Nightmare

27:06 Economic Realities of the Live Music Industry

34:44 Conclusion and Future Outlook

38:15 Credits

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