Does Ticketmaster Have A Monopoly On Live Events? : 1A Bruce Springsteen built his reputation on being a man of the people. That's part of why some of his fans were especially aghast at the ticket prices for his upcoming tour. Some cost upwards of thousands of dollars each.

Many popular artists take advantage of a pricing system used by live events company Ticketmaster that sets prices based on demand. The more people waiting in line for tickets, the higher the prices go. But many fans aren't happy with the ballooning costs.

Live Nation, Ticketmaster's parent company, owns concert venues, promotes tours, and sells tickets. Some say that leaves little room for competition, hurting fans, artists, and the industry at large.

We discuss Live Nation as a monopoly, who it hurts, and what's being done to address the lack of competition.

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Does Ticketmaster Have A Monopoly On Live Events?

Does Ticketmaster Have A Monopoly On Live Events?

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Ticketmaster's use of 'dynamic pricing,' which prices tickets based on demand, recently pushed Bruce Springsteen tickets into the thousands of dollars. Jamie McCarthy/Getty Images for SUFH hide caption

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Jamie McCarthy/Getty Images for SUFH

Ticketmaster's use of 'dynamic pricing,' which prices tickets based on demand, recently pushed Bruce Springsteen tickets into the thousands of dollars.

Jamie McCarthy/Getty Images for SUFH

Bruce Springsteen built his reputation on being a man of the people. That's part of why some of his fans were especially aghast at the ticket prices for his upcoming tour. Some cost upwards of thousands of dollars each.

Dynamic pricing is the reason why. It's a relatively new pricing system used by live events company Ticketmaster that sets price based on demand. The more people waiting in line for tickets, the higher the prices go.

Bruce Springsteen, Harry Styles, Taylor Swift, and other popular artists have taken advantage of the system. It puts more money in their pockets rather than those of scalpers. But many fans aren't happy with the ballooning costs. It's the latest controversy surrounding the company, which has long attracted antitrust criticism.

Live Nation, Ticketmaster's parent company, owns concert venues, promotes tours, and sells tickets. Some say that leaves little room for competition, hurting fans, artists, and the industry at large.

Is Live Nation a monopoly? Who would that hurt? And what's being done to address the lack of competition?

American Antitrust Institute president Diana Moss, Pabst Theater Group CEO Gary Witt, New York State Sen. James Skoufis, and president and CFO of Live Nation Joe Berchtold join us for the conversation.

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