Sam Shetka’s Post

The Ticket Business: Should the Government Regulate? Discover whether the ticket business should be regulated by the government in this insightful video. Explore the pros and cons of government intervention and the impact it has on prices, fan experience, and ticket availability. Join the discussion on finding the right balance between market forces and consumer rights. #TicketBusinessRegulation #GovernmentIntervention #MarketForces #ConsumerRights #TicketAvailability #FanExperience #PricesInTicketBusiness #TicketRegulationDebate #TicketMarketChallenges #BalancingConsumerRights

Justice Department To File Antitrust Suit Against Ticketmaster-Parent Live Nation: The Justice Department is preparing to sue Live Nation as soon as next month [non-paywalled link], an antitrust challenge that could spur major changes at the biggest name in concert promotion and ticketing. WSJ: The agency is preparing to file an antitrust lawsuit against the Ticketmaster parent in the coming weeks that would allege the nation's biggest concert promoter has leveraged its dominance in a way that undermined competition for ticketing live events, according to people familiar with the matter. The specific claims the department would allege couldn't be learned. The federal government opted out of trying to block Live Nation and Ticketmaster's 2010 tie up. Since then, the company has faced accusations of exorbitant ticket fees, flawed customer service and anticompetitive practices from lawmakers, regulators and state attorneys general. Critics of the merger say it has stifled competition in ticketing and that the company should be broken up. Live Nation's size and power in concert promotion, ticketing and venues are at the heart of a Justice Department investigation that began in 2022. The investigation gained momentum in November 2022 after Ticketmaster crashed during a fan presale to Taylor Swift's "Eras Tour." Read more of this story at Slashdot.

— Live nation and the “bigger” guys engage in a pay to play practice. There’s a difference between giving bonus and paying to lock people into contracts only to upcharge event goers to recoupe the bonuses. I often tell venue owners other than the money platforms will give you, what are the substancial value add? Smaller players in the industry have started to mirror the pay to play approach. Eventbrite, See tickets, and most recently, Posh! It has become evident that there’s no room for products that solve a true problem. Most venue owners will constantly ask you “how much are you paying for me to use your software”. Infact this is now trickling down to the promoter level — platforms are paying promoters to lock them into selling tickets exclusively on their platform. Google, Amazon etc give platform credits however they will never explicitly force their clients to stay on their platform for those credits. I refuse to play! It’s definitely hard not to play for so many reasons. Our approach at Bookt is to bring the value for event organizers and attendees. The better question here is would there be regulation to combat currently existing bad practices? What do you think about the Live Nation lawsuit ? #livenation #regulation #lawsuits #livemusic

With the latest hack against Ticketmaster we should be asking the following questions. 1. When a business gets so big and monopolises an industry with unreasonable business practices, shoddy security and general disdain for the general public when should the government step in 2 how can we as individuals get access to reasonable alternatives to drive pure free market economics that will ultimately create cheaper and better services

Want a no-nonsense breakdown of how the ticketing value chain and commercials really work? This article nails it—with sharp insights and a few warnings for anyone who’s missed the memo. Love your work Tim Chambers

ICYMI: How to finance the development of your new digital billboard locations with Yesco Financial Solutions (Billboard Insider): Tony Hull. YESCO Financial Solutions. Independent billboard operators choose YESCO Financial Solutions because we’re fast, flexible and offer thoughtful terms. On a new digital billboard site, we’ll typically finance 90% of hard costs, we don’t require an appraisal, our rate is fixed for the life of the term, and we can approve, close and fund […] #DOOH #digitalbillboards #digitalsignage

ICYMI: How to finance the development of your new digital billboard locations with Yesco Financial Solutions (Billboard Insider): Tony Hull. YESCO Financial Solutions. Independent billboard operators choose YESCO Financial Solutions because we’re fast, flexible and offer thoughtful terms. On a new digital billboard site, we’ll typically finance 90% of hard costs, we don’t require an appraisal, our rate is fixed for the life of the term, and we can approve, close and fund […] #DOOH #digitalbillboards #digitalsignage

DOJ to Sue Live Nation Entertainment for Antitrust Violations The US Justice Department, along with a coalition of states, is set to file an antitrust lawsuit against Live Nation Entertainment Inc., the parent company of Ticketmaster. This significant legal action will challenge Live Nation's dominance over concert ticket sales. 🔺 Why This Matters: Live Nation, the largest concert promoter in the US, merged with Ticketmaster in 2010. The merger was conditionally approved by the Obama administration, with Live Nation promising not to retaliate against venues that chose other ticketing services. However, subsequent investigations revealed repeated violations of this agreement. 🔺Key Developments: - In 2019, under the Trump administration, a modified settlement was reached, which included external monitoring of Live Nation’s practices. - The Biden administration reopened the probe in 2022 due to ongoing concerns about compliance. - The issue gained widespread attention after Ticketmaster's handling of Taylor Swift's ticket sales, highlighting the impact of monopolistic practices on consumers. 🔺 What’s Next: The lawsuit, expected to be filed in the Southern District of New York, may seek remedies including the potential breakup of Live Nation. This action is part of a broader push by the Biden administration to enforce antitrust laws and promote competition. This move underscores the administration's commitment to curbing monopolistic behaviour and protecting consumer interests. As this case unfolds, it could reshape the landscape of the entertainment and ticketing industry. Bloomberg News. (2024, May 22). Justice Department to seek breakup of Live Nation-Ticketmaster. Bloomberg. Retrieved from https://lnkd.in/deyiZi-G. Bloomberg News #TicketingIndustry #DOJ #Livenation

Hello All! I hope you had a lovely holiday weekend. I should have posted this a few days ago to give you a heads up, but I am asking everyone to please follow this link TODAY (July 9) and tell Congress you are tired of all the nonsense involved with concert ticket buying we have all come to know and (not) love. I am borrowing this messaging from my friends at MaxxMusic: This July 9th, we urge you, our friends, neighbors, fans, and supporters, to join us in support of the Fans First Act. Here's why Congress acting on these bills matters: **They prohibit the sale of speculative or fake tickets, so you never show up to an event with a fake ticket in hand, only to be turned away at the gate. **They ban deceptive marketing practices that trick you into buying illegitimate or non-venue sponsored tickets. **They guarantee up-front pricing so you see your total cost, including any mandatory fees, from the moment a transaction begins. **They provide for clear penalties and state and federal enforcement so predatory resellers are held accountable. This is not just about fixing ticketing; it's about restoring transparency and safety to an industry that we all hold dear. Let’s take action together. On July 9th, visit the “Fix the Tix” website and fill out the form that lets Congress know you want them to fix ticketing. https://lnkd.in/ebDm9Gij

🤔 Want the latest info in the world of live events? 📲 Check out this weeks addition of our weekly newsletter 'Ticketing is Broken Vol. 2' Hear the latest on Taylor Swift, new StubHub lawsuits, and how Tick3t Tree plans to change events for good! https://lnkd.in/ed9AxEqb