Live Nation facing class action suit over ‘excessively high fees’

[Westerosi 1,514]

A New York ticket buyer filed a proposed class action suit against Ticketmaster and its parent company Live Nation on Thursday, alleging consumers are forced to pay high prices because the company has used its market power to charge “excessively high fees”—a suit that came the same day the U.S. government sued Ticketmaster and Live Nation for similar antitrust issues.

Abraham Leifer, the plaintiff in the case, alleges all consumers of tickets at major concert venues are impacted by Live Nation’s monopoly, which has been in place since it purchased Ticketmaster in 2010.

The suit was filed on behalf of all consumers who have bought tickets from resale sites after they were originally sold on Ticketmaster, arguing Live Nation’s alleged monopoly power has pushed up prices in the “secondary” ticket sale market by limiting competition among resale sites and passing on high fees.

The lawsuit was filed in Manhattan on the same day the Department of Justice filed an antitrust suit against Live Nation, alleging the company and its subsidiaries have used a number of tactics to “eliminate competition and monopolize markets.”

Source: Forbes

 

[Snorlax 5,203]

Great, but can't help but feel the only outcome will be a $10 voucher that can only be used for certain events 

[southpaw773 242]

Not only the fees. But the prices too. They need to be torn a new one by the feds. 
 

that being said not sure what other organizations out there could compete at their level. 

[Agunimon 20,646]

Good. Get her Jade.

[Knife 6,376]

Couldn't happen to a more deserving company. Let's get UberEats next. 

 

[Shadow 6,047]

The Feds should break up more monopolies like Live Nation, even some regulation and an injunction would help... Without competition, of course conglomerates and mega corporations can price gouge the hell out of the market. 

 

[JanStan 562]

The way the privilege screams with these kind of lawsuits.  Imagine being feeling FORCED to pay for a concert that you claim is overpriced? Like, THAT is what you are suing for because not going isn’t an option? Pathetic af.

[Spartacus 4,485]

I think I'm gonna follow suit and file one against Gaga's store for charging $80 for a sweat pants worth $16 with some stickers on it.

[berlinforme 5,016]

40 minutes ago, JanStan said:

The way the privilege screams with these kind of lawsuits.  Imagine being feeling FORCED to pay for a concert that you claim is overpriced? Like, THAT is what you are suing for because not going isn’t an option? Pathetic af.

It's still a de facto monopoly though and culture should be more accessible. Not even cheap, but more affordable than 300-400€ for a standard ticket because of made up extra fees. 

[JanStan 562]

55 minutes ago, berlinforme said:

It's still a de facto monopoly though and culture should be more accessible. Not even cheap, but more affordable than 300-400€ for a standard ticket because of made up extra fees. 

If there isn’t a market for those prices then they wouldn’t be there. Concerts are no different than any other highly demanded product. Its comparable to suing Mercedes because you feel like it’s unfair for them to charge so much to drive a luxury vehicle. It would be stupid. But even the, it’s not as stupid as this lawsuit cause at least driving in a lot of cases is a necessity. Concerts are NEVER that. 

[homomo 23,205]

29 minutes ago, JanStan said:

If there isn’t a market for those prices then they wouldn’t be there. Concerts are no different than any other highly demanded product. Its comparable to suing Mercedes because you feel like it’s unfair for them to charge so much to drive a luxury vehicle. It would be stupid. But even the, it’s not as stupid as this lawsuit cause at least driving in a lot of cases is a necessity. Concerts are NEVER that. 

Comparing this to car brands is redundant.

We have tons of car brands to choose from when shopping for a car. But when going to a lady Gaga concert, we only have one brand.

[JanStan 562]

39 minutes ago, homomo said:

Comparing this to car brands is redundant.

We have tons of car brands to choose from when shopping for a car. But when going to a lady Gaga concert, we only have one brand.

Your example is objectively flawed. There are plenty of concerts to go to (within varying price ranges, even free ones) but it may not be the one you want. That doesn’t mean you get to demand that the one you do want to go to has to lower their prices. The value of the product is what determines the cost and if you don’t feel that the cost is justified DONT GO. It’s not like food or water or other necessities. Demanding access to luxuries is the height of entitled, privileged gross behavior. 

[Edonis 26,732]

3 minutes ago, JanStan said:

Your example is objectively flawed. There are plenty of concerts to go to (within varying price ranges, even free ones) but it may not be the one you want. That doesn’t mean you get to demand that the one you do want to go to has to lower their prices. The value of the product is what determines the cost and if you don’t feel that the cost is justified DONT GO. It’s not like food or water or other necessities. Demanding access to luxuries is the height of entitled, privileged gross behavior. 

sis, are you on Live Nation's payroll or something lol 

[Westerosi 1,514]

3 hours ago, Shadow said:

The Feds should break up more monopolies like Live Nation, even some regulation and an injunction would help... Without competition, of course conglomerates and mega corporations can price gouge the hell out of the market. 

 

Regulation, I think, is the way forward.

We currently have this problem with our bus service. There is only one company in the entire country that provides public buses, and they are just messing with people. Without the necessary competition to motivate them to a higher standard, a lot of people can't even make it to work because of how terrible the service is.

My concern with Live Nation is that they don't only harm customers. They also harm artists and their management. 

The greed either has to end, or another corporation needs to start offering an equally accessible service with an even better standard of care.

[Westerosi 1,514]

2 hours ago, Spartacus said:

I think I'm gonna follow suit and file one against Gaga's store for charging $80 for a sweat pants worth $16 with some stickers on it.

Girl, keep sweating in them then sell them on OF for $180. 

Work smarter, not harder.