- Live Nation Entertainment Inc LYV has come out with global concert business reforms for fair ticketing.
- The company said the best way to ensure a fair ticketing experience for live music fans is to put more control in the hands of the artists themselves.
- Protect artists' ability to use face-value exchanges and limited transfer to keep pricing lower for fans, and prevent scalpers from exploiting fans.
- The move comes after several Taylor Swift fans filed a lawsuit against Ticketmaster, owned by Live Nation, in California court, alleging anticompetitive and fraudulent behavior after the company blocked them from buying tickets to the musician's concerts.
- The company said that the deceptive tactics used by scalpers to trick fans into spending more or buying tickets the seller doesn't even have leads to confusion among fans.
- Live Nation said policymakers should expand the scope of the BOTS Act and increase enforcement to deter those who break the law, cheating artists and fans in the process.
- Resale sites that turn a blind eye to illegally acquired tickets, allow ticket speculation, and ignore artists' rules must be curbed by policymakers, the company specified.
- Mandating all-in pricing throughout the nation will provide options to fans to easily compare prices as they shop.
- President Joe Biden criticized Ticketmaster and other companies during his State of the Union address and demanded the excessive service fees that are added to concert tickets be reduced.
- Live Nation's FY22 sales of $16.7 billion more than doubled Y/Y.
- Price Action: LYV shares closed higher by 1.39% at $76.49 on Thursday.
- Photo Via Wikimedia Commons
Loading...
Loading...
LYVLive Nation Entertainment Inc
$142.22-0.55%
Edge Rankings
Momentum
90.28
Growth
71.21
Quality
-
Value
22.66
Price Trend
Short
Medium
Long
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In:
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
