Live Nation Reportedly Pitches Trump Administration on Secondary Ticketing Price Controls Amid DOJ Suit
Photo Credit: Benjamin Sharpe
As it fends off a much-publicized Justice Department antitrust suit, Live Nation is reportedly pitching the Trump administration on secondary ticketing price controls. Thatâs according to Variety, which pointed specifically to âa new packet of materialâ created by the Ticketmaster parent for members of the administration as well as the DOJ and the FTC in particular.
As many know, the latter two agencies, in keeping with a March executive order, kicked off an inquiry into âunfair and anticompetitiveâ ticketing practices; said inquiryâs public-comment window wrapped yesterday.
Unsurprisingly, a substantial portion of the thousands of submitted remarks (some from individuals, some from various execs) involve Live Nation/Ticketmaster and are far from positive.
Then thereâs the initially mentioned antitrust action (which began during the prior administration), a separate Live Nation congressional inquiry on the sports side, and rumblings of a criminal antitrust probe. And thatâs not even including a mountain of regulatory woes across the pond, where the DOJ case is actively being cited.
In other words, now is a good a time as any for a strategic pivot from Live Nation in this area. May saw the company add Richard Grenell to its board of directors, and June brought a pledge to invest $1 billion building 18 venues in the U.S.
Keeping the momentum going into the current month, Live Nation in the initially mentioned packet reportedly proposed a 20% cap on resale-pass prices. Also part of the leading promoterâs reported pitch are calls to afford artists themselves greater control over secondary ticketing â besides ramping up BOTS Act enforcement efforts.
(Live Nation isnât alone in urging additional prosecutions under the scalping-focused law, and separate legislation, the Fans First Act, would implement changes âstrengtheningâ the measure. But the newer bipartisan bill still hasnât made its way out of committee.)
Time will, of course, tell whether the maneuvers lay the groundwork for regulatory relief on Live Nationâs end. In any event, given consumersâ apparent ticketing frustration and the spaceâs growing list of competitors, jumping into the driverâs seat makes sense if regulations are unavoidable.
To be sure, the above-described proposals would affect not just Ticketmaster, but rivals including StubHub, SeatGeek, Vivid Seats, and TickPick, to name some. On a related note, questions remain about whether Ticketmaster is actually benefiting â relative to the hit absorbed by the competition, that is â from all-in pricing.
