Analytic Dreamz: Notorious Mass Effect - "DOJ'S BLOCKBUSTER LAWSUIT AGAINST LIVE NATION / TICKETMASTER"

Starting point is 00:00:05 More trouble for Ticketmaster and its parent company Live Nation, as 10 more states have joined the antitrust lawsuit filed by the Department of Justice, 29 other states and Washington, D.C. in May, accusing Ticketmaster of acting as a monopoly and inflating concert ticket prices. This followed outrage by consumers, specifically Taylor Swift fans, who had trouble accessing tickets to her heiress tour. Now, two things for some. certain is that three things for certain four five six seven eight million things for certain is

Starting point is 00:00:42 that if you make the swifties upset they will come after you because taylor swift is the biggest gangster in the music industry so when it comes to the amount of power she has as far as causing change best believe she's going to get it done so whenever she goes on tour and then her fan base starts to target the actual companies behind these exorbitant amount of ticket prices and pointing out how this is a legal monopoly, then you get to the point where these type of lawsuits happen. So Analytic Dreams video on Spotify to see the video along with the audio as she goes into more detail. The attorneys general of Indiana, Iowa, Kansas, Louisiana, Louisiana,

Starting point is 00:01:35 Mississippi, Nebraska, New Mexico, South Dakota, Utah, and Vermont joined the case on Monday as the DOJ issued an amended complaint with more allegations against the live entertainment companies, along with the DOJ's goals of breaking up Live Nation and Ticketmaster, and quote, restoring competition in the live concert industry. States are now seeking trouble damages for what they say fans were overcharged. With claims being filed under federal anti-monopoly laws, states, States have the ability to seek three times the monetary damages. New York Attorney General Letitia James said in a... All right, so jumping in here again, basically, the accusation that Live Nation have destroyed concerts is a very valid response based on the past 50 years. Some people would say it's because of inflation, but concerts used to cost less than $50 to see some of the biggest act. on planet earth now people are out here paying thousands of dollars in indie venues are going bankrupt for the simple fact that what a ticket master slash live nation is just out here taking over the industry in the way that leads them to inflated ticket prices harming certain artists when it goes

Starting point is 00:03:06 to, well, when it comes to them going on tour and not going through them as far as their actual overall tours being considered because one of the main people I'll probably point out as far as the victim of this and not really playing ball when it comes to Lob Nation and Rock, I almost say Rock Nation. That's the wrong nation. When it comes to playing ball with Tickin Master and Lob Nation is a Rod Wave. He, went with a very unique path he went on a very unique path as far as his tourist is considered and usually whenever you do not go through live nation it is apparent that a lot of things start to happen as far as news coming out about maybe a show being uh or not performing as well maybe people

Starting point is 00:03:59 aren't showing up and at the same time or the whole time you could be selling out every arena so they definitely play dirty games when it comes to the overall consumption of having every artists go through them as far as them going on tour because Lob Nation manages over 400 artists and they control around 60% of concert promotions so that's more than 265 concerts concert venues in north america combined that with the fact that ticket master controls roughly 80 percent of ticket sales for major concert venues. Then you get to the point where Live Nation and Ticketmaster have significant control over both primary and secondary ticket sales, which is why these type of lawsuits are coming through as far as saying that it's an illegal monopoly.

Starting point is 00:04:58 Statement, it's time for a new era where fans, venues, and artists are not taken advantage of by big corporations that run the world of live events. In the updated complaint, the DOJ uses internal Live Nation documents it obtained during the legal process to make its point. The DOJ says Live Nation owns or controls more than 265 concert venues in North America and through Ticketmaster controls roughly... Dang, who said that? Who said that first? That was me, wasn't? That's crazy. That boy do his research. No, I'm sorry.

Starting point is 00:05:32 Internal Live Nation documents indicated, Ticketmaster is the primary ticketer for about 80% of the U.S. arenas that hosts NBA or NHL teams, adding no other rival ticketed more than 14%. The DOJ points to Ticketmaster's youth. All right. Now I'm going to jump back in

Starting point is 00:05:50 because obviously with this overall evolution and just the advancement of the conversation when it comes to these lawsuits, you come to realize that ticket master introduced in 2019 just completely took over the game I mean who really thought the ticket master would come and just take over the game like this as far as 2019 to 2024 in a short span of time they control 60% actually that's ticket master I'm talking about ticket master controls roughly 80% of ticket sales for major concert venues So whenever you start to see higher prices to the point where you feel like it's an exorbitant amount, it's egregious, it's unfair, and there's additional fees tacked alongside that that's referred to as the ticket master tax, you can see how people start to point out the reduce competition being a factor into why Live Nation,

Starting point is 00:06:58 and ticket master feel like they can just act like this and nobody's going to say anything. Because not only does it harm fans, but it also harms smaller artists, venues, because it limits the opportunities and creative expression as far as the live music industry. Because if you have a huge conglomerant, taking over every single venue by force,

Starting point is 00:07:22 and having dominance over the market, then you get to set your price whenever it gets to that point. point where everybody's looking at you to go through their uh everybody's looking at you for when they want to go on tour because they know if they don't if they don't go through you stuff will be played behind the scenes to get you to a point where everybody is going to start getting certain propaganda on your tour not selling well maybe um you're on professional you know, just a lot of different backdoor behind the scenes tactics that's used by huge conglomerates whenever they don't get their way.

Starting point is 00:08:07 So that being said, I think one of the, I think honestly, the noteworthy aspect of this entire segment is just that Live Nation and Ticketmaster controls in an illegal amount of market space when it comes to live performing allegedly, you know, not trying to get sued, you know what I'm saying. But that is why you see this formation, like the second coming of Voltron, with 39 states coming together and putting together an illegal monopoly type of lawsuit like this.

Starting point is 00:08:44 Because if you're going to go after Lob Nation, the Ticketmaster, it's not going to be one. It's not going to be 10, 20, 30 people to come together to make. make them change their minds. It's going to have to be the amount of states it is currently with 39 states coming together to go after Live Nation and Ticketmaster for allegedly having an illegal monopoly, which is basically leading to inflated ticket prices, harming the smaller musicians and venues, and then ultimately reducing competition, which is why the anti-monopoly laws are

Starting point is 00:09:25 in place for the that's why the anti-monopoly laws exist in the first place so anyways i think there was something else i was wanting to get into so that was basically the main thing because oh yeah so live nations defense to be fair they have said that the vertical integration of ticketing and promotion services benefit consumers way more than people are leading on and that the law of suit ignores the broader competitive landscape as far as live entertainment market. And then Doge's stance, which is the other side, the attorney general, Merrick Garland, have came out and said that breaking up, well, that breaking up Live Nation and Ticketmaster needs to happen because of their practices violating antitrust laws when it comes to

Starting point is 00:10:23 reducing competition and increasing prices for the consumers. So those are the rebuttals from both sides as far as where they stand in the midst of this entire lawsuit because this is a pretty big deal. Like I'm on the side of the people. So when it comes to Doge and then wanting to split up a monopoly, I'm all for it because I have seen so many different people going to different lawsuit, going to different live concerts and over time they start to talk about how it effectively you know leaves them dry as far as their pockets i mean some would say that's a money management thing but i mean back in the day you was

Starting point is 00:11:07 able to go to like two three four concerts a year and really not break the bank nowadays that's not even a thing like if you really want to get into it some of the biggest concerts that people go to festivals for a reason. It's because now when you look at it, that's more bang for your buck, simply for the fact that all of these inflated ticket prices are through the roof. So Live Nation and Ticketmaster as a business model is just getting to a point where they are involving revenue by securing tickets and then reinforcing the tickets, well, reselling the tickets again as far as what they call i figure what they call those but basically it's it's a known strategy for people to buy tickets and resell them but for ticket master they really make their money off of that

Starting point is 00:11:59 um system and that's why they market up the prices the way they do because somehow magically all the tickets are taken and then the exorbitant prices take up those slots as far as wanting to buy those tickets again but hey i want to get into conspiracy land i just want to tell you that there's a reason why this lawsuit includes 39 states. So, yeah, at the end of the day, Ticketmaster definitely has a lot to, they definitely have a lot to address and they have to speak for themselves when it comes to this lawsuit as far as the illegal monopoly because 39 states coming together. There's, it's not a coincidence.

Starting point is 00:12:48 There's a reason why 39 states are coming together to battle and challenge live nations and ticket master's dominance when it comes to the overall live performance as far as the live entertainment sector so that being said click my link tree in my bio let me know one of my social media is what do you think about ticket master and live nation facing multiple lawsuits from a combined 39 states and which side are you on

Analytic Dreamz: Notorious Mass Effect - "DOJ'S BLOCKBUSTER LAWSUIT AGAINST LIVE NATION / TICKETMASTER"

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