Dr. Vijay Kumar Aggarwal’s Post

Great analysis from Jason Powers here. Another striking development here is the number of monopolization cases that the government has filed and litigated in the last two years. For good or ill, the government is seriously contesting the acquisition and maintenance of market power in allegedly concentrated industries.

Ticketmaster and Live Nation are finally "facing the music" as the U.S. Department of Justice and 30 state attorneys general file antitrust charges against them. Learn more about the case and what is at stake in this Perkins Coie LLP Update. #Ticketmaster #LiveNation #Antitrust #AntitrustLaw

Ticketmaster and Live Nation are finally "facing the music" as the U.S. Department of Justice and 30 state attorneys general file antitrust charges against them. Learn more about the case and what is at stake in this Perkins Coie LLP Update. #Ticketmaster #LiveNation #Antitrust #AntitrustLaw

Big moves in the music industry! SoundExchange's $150M lawsuit against SiriusXM shifts to NY. The battle over unpaid royalties heats up, as New York's courts prepare to weigh in. Stay tuned for the next chapter in this legal drama! #MusicRoyalties #SoundExchangeVsSiriusXM

The Entertainment, Arts and Sports Law Blog's Week In Review is available at https://lnkd.in/eVY4imaq #nysba #easlnysba #entertainmentlaw #artlaw #sportlaw #medialaw

BREAKING: Justice Department Takes Aim at Ticketmaster and Live Nation for Antitrust Violations In a significant move, the U.S. Justice Department and 30 state and district attorneys general have taken action against Live Nation Entertainment, Ticketmaster's parent company, aiming to dismantle its monopoly over concert ticket sales. The lawsuit, filed today (May 23), alleges that Live Nation's dominant position in the live entertainment industry results from illegal practices, including long-term exclusive contracts with venues and retaliatory measures against those who don't comply. These actions, according to the suit, violate antitrust laws and inflate ticket prices, negatively impacting fans, artists, smaller promoters, and venue operators. Attorney General Merrick Garland stated, "Live Nation's monopolistic control over the live events industry in the United States comes at the cost of fans, artists, smaller promoters, and venue operators. This lawsuit seeks to end these unlawful practices and restore competition in the market." Despite these allegations, Live Nation maintains that their practices are lawful and do not breach antitrust regulations. The merger of Ticketmaster and Live Nation in 2010 consolidated Ticketmaster's control over approximately 70% of the U.S. concert ticket market with Live Nation's status as the world's largest concert promoter. This case could reshape the live entertainment landscape, potentially lowering ticket prices and increasing opportunities for smaller players in the industry. The outcome of this lawsuit will have significant implications for all stakeholders involved. What do you think should happen next? Should Live Nation and Ticketmaster be broken up to foster fair competition, or do their current practices serve the industry's best interests? Let me know your thoughts. Mitch Jackson Lawyer | Private Mediator __________ Read more from the Office of Public Affairs here https://lnkd.in/gBn9g-XD and see the actual lawsuit here https://lnkd.in/gA_2CJBw

🎵 The State of Live Nation: An ongoing legal battle🎵 As the legal proceedings against Live Nation Entertainment Inc. and its subsidiary, Ticketmaster LLC, unfold, it's crucial to examine the broader context and the multifaceted implications of this case. Legal Background In May 2024, the U.S. Department of Justice (DOJ), alongside 30 state and district attorneys general, filed a civil antitrust lawsuit against Live Nation and Ticketmaster. The lawsuit alleges that Live Nation-Ticketmaster engages in monopolistic practices that harm competition in the live concert industry. Allegations and Business Practices 📋 Market Control → The DOJ accuses Live Nation-Ticketmaster of leveraging a self-reinforcing business model, or "flywheel," which involves capturing fees from concert fans, locking artists into exclusive deals, and securing venues into long-term contracts (Justice). Exclusionary Conduct → The complaint highlights practices such as retaliating against venues that opt for rival services and utilizing their market dominance to inhibit competition and innovation (Justice). Economic Consequences → These practices allegedly lead to higher ticket prices, reduced technological advancements for consumers, and fewer opportunities for independent promoters and artists (Politico). Live Nation's Position 📊 Economic Impact → Live Nation has significantly contributed to the live entertainment ecosystem, supporting thousands of jobs and stimulating local economies. Their technological advancements in ticketing and venue management have transformed the industry. Market Dynamics → The company contends that the lawsuit overlooks critical factors influencing ticket prices, such as rising production costs and the increasing popularity of artists. They also assert that exclusive agreements with venues provide stability and predictability in revenue (Politico). Commitment to Innovation and Safety → Live Nation has consistently introduced innovations to enhance the fan experience and ensure safety at events. Their dedication to creating inclusive and secure environments for concertgoers is commendable. Broader Industry Implications 🌐 This lawsuit is part of the Biden Administration’s wider initiative to boost competition across various industries. The outcome could redefine the structure of the live events industry and set a precedent for future antitrust actions. A Balanced Perspective ⚖️ While addressing anti-competitive practices is essential to keep our economy sufficiently competitive, it is equally important to acknowledge the contributions and innovations of companies like Live Nation in their industry. Constructive criticism should aim to foster a competitive industry that benefits fans, artists, and promoters alike. By supporting fair and vibrant live entertainment, we can strive for continuous improvement and innovation in the industry. 🎤✨ #LiveNation #Ticketmaster #LiveEvents #Innovation

Data privacy and responsible AI is responsbility of all the stake holders. When investors starts putting money blindly into firms ignoring their ethical implications, it distorts the whole ecosystem especially when its in the nascent stages.

And, just like that, the U.S. government filed an antitrust lawsuit against Live Nation Entertainment. The implications could be significant for the music industry. Here are some key points to consider: 🥁 Increased competition could lead to more opportunities for new players to enter the market. 🎻 Leveling up the playing field for ticketing platforms may occur. 🎸 Transparency on ticket fees could become a norm. What do these implications mean for companies like SeatGeek? With more players entering the market, ongoing competitive monitoring programs will be essential. I am curious to see how companies adjust their strategies to thrive in this evolving landscape. #antitrust #musicindustry

The problem here is a much larger one that permeates American society. When the marketplaces we build do not adhere to free-market principles they will fail systemically. Similar anticompetitive endeavors are omnipresent in technology innovation, the airline industry, the clothing industry, you name it. Government is responsible for establishing the theory that determines what can be discovered. We must establish a theory that determines the workings of all marketplaces, not just the Ticketmaster one. To go after one is the denial of a bigger governmental responsibility. Read up on an article on the subject I wrote in 2008 here: https://lnkd.in/efS3sXNe