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FTC Chair Andrew Ferguson : Ticketmaster has not been honest about its pricing
Youtube· 2025-09-18 21:06
Core Viewpoint - The Federal Trade Commission (FTC) has filed a lawsuit against Live Nation and Ticketmaster for alleged illegal ticket resale practices, claiming that ticketing has become excessively expensive for consumers [1][2]. Group 1: Allegations Against Ticketmaster - The lawsuit alleges that Ticketmaster has been dishonest about ticket pricing, posting initial prices on its website and then increasing fees during the purchase process, which violates the FTC Act [4]. - Ticketmaster is accused of misrepresenting the availability of tickets on the primary market, as brokers have been buying large quantities of tickets, leading to deceptive listings on Ticketmaster's website [5]. - The FTC claims that Ticketmaster allowed brokers to circumvent ticket limit controls, resulting in significant profits for brokers and Ticketmaster through its secondary ticketing platform, which is considered unfair and illegal [6][7]. Group 2: Desired Outcomes from the Lawsuit - The FTC seeks an injunction to prevent Ticketmaster from continuing its alleged deceptive practices that harm consumers [9]. - The FTC aims to recover potentially billions of dollars in illegal profits taken from American consumers by Ticketmaster and return those funds to the consumers [10].
FTC sues Ticketmaster, Live Nation, alleging 'illegal' ticket resale tactics
CNBC· 2025-09-18 15:35
Core Points - The U.S. Federal Trade Commission (FTC) has filed a lawsuit against Ticketmaster and Live Nation Entertainment for alleged illegal ticket resale practices [1][2] - The lawsuit claims that these companies collaborated with scalpers to unlawfully purchase tickets, which has led to increased profits at the expense of consumers [1][2] - The FTC highlights that Ticketmaster controls approximately 80% of ticketing for major concert venues and that consumers have spent over $82 billion on tickets through the platform from 2019 to 2024 [2] Summary by Sections - **Lawsuit Details** - The lawsuit was filed in federal court in California, with seven states, including Florida, Illinois, and Virginia, joining the action [1] - The FTC accuses Ticketmaster and Live Nation of working with scalpers to manipulate ticket sales [1] - **Impact on Consumers and Artists** - The lawsuit states that the illegal practices frustrate artists' efforts to keep ticket prices affordable for average American families, costing fans millions annually [2] - **Market Control** - Ticketmaster's dominance in the market is emphasized, controlling around 80% of major concert venue ticketing [2] - The significant consumer spending of over $82 billion on tickets through Ticketmaster from 2019 to 2024 is noted [2]