Can Australian Music Survive in the Age of Spotify?
The deal also caps service fees at 15% of the ticket prices at Live Nation-owned amphitheaters, while Live Nation will be forced to divest from at least 13 of its amphitheaters, with that number possibly rising as states sign on to the settlement, the DOJ official said.
To potentially open up more competition in the ticketing space, Ticketmaster will have to now allow rival companies such as SeatGeek and Eventbrite to list tickets on its platforms. The DOJ is also mandating that Ticketmaster’s exclusivity contracts with venues last no longer than four years.
Live Nation will reportedly have to pay $200 million in damages to the states that sign onto the settlement, but the DOJ official noted that a deal is still being hashed out with the individual states. Some states could still pursue their own claims.
