Opinion: California seeks to reform ticket sales. Warriors, 49ers fight back
As warmer weather arrives, Californians are thinking about the next live sporting event or outdoor concert with family and friends. But what used to be a straightforward experience of getting tickets has morphed into a complex and costly endeavor, all thanks to the Live Nation and Ticketmaster stranglehold over consumers. Since the two companies merged in 2010, Live Nation Entertainment has built a monopolistic empire controlling the management of venues for live sports and concerts, and also the process for buying tickets. The monopoly now controls an estimated 80% of primary ticket sales nationwide, and holds contracts with 78% of the top-grossing arenas. The monopoly is also the dominant player in the secondary resale market, with upwards of two-thirds of the market share, according to reports. Who loses because in all this? You, the consumer. Our wallets have been hit hard: Ticket prices have more than doubled since Live Nation and Ticketmaster merged, surging by an alarming 140% even when adjusted for inflation. The monopoly is finally facing scrutiny from government watchdogs. Last week, the federal Justice Department revealed plans to file an antitrust lawsuit against Live Nation Entertainment for