FTC Sues Ticketmaster by Dee-Ann Durbin, Associated Press | The Federal Trade Commission and a bipartisan group of state attorneys general sued Ticketmaster and its parent company Thursday, saying they are forcing consumers to pay more to see live events through a variety of illegal tactics.
The FTC said Live Nation and its subsidiary, Ticketmaster, have deceived artists and consumers by advertising lower ticket prices than what consumers must pay and falsely claiming to impose strict limits on the number of tickets consumers can buy for an event.
In reality, the FTC said, Ticketmaster coordinates with ticket brokers who bypass those ticket limits. The FTC said brokers use fake accounts to buy up millions of dollars worth of tickets and then sell them at a substantial markup on Ticketmaster’s platform. Ticketmaster benefits from the additional fees it collects from those sales, the FTC said.
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Go here to read this story:
https://apnews.com/article/ticketmaster-live-nation-ftc-tickets-lawsuit-16e87186902b029f2a4fda5334f12baf
Durbin is an Associated Press business writer focusing on the food and beverage industry. She has also covered the auto industry and state and national politics in her nearly 30-year career with the AP.
[Thanks to Alex Teitz for contributing this article! https//www.femmusic.com]
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Ticket Marketplace StubHub Slips on the Public Stage in Its Trading Debut on Wall Street
By Daman J. Troise, AP News
StubHub received a lackluster reception on Wall Street Wednesday.
The ticket marketplace’s stock fell 6.4% from its initial public offering price of $23.50 per share on its first day of trading. The company’s shares are trading on the New York Stock Exchange under the symbol “STUB.”
StubHub offered just over 34 million shares and raised approximately $800 million. At the closing price, the company has a market valuation of about $8.1 billion.
StubHub plans to use proceeds from the sale to pay down debt and for general corporate purposes.
The company, which is based in New York, said buyers in more than 200 countries and territories used its platform to purchase more than 40 million tickets in 2024. It was co-founded in 2000 by current CEO, Eric Baker. He will remain CEO and maintain control of the company.
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This story has been corrected to show the correct figures for 2024 revenue for Live Nation.
https://apnews.com/article/stubhub-tickets-events-ipo-nyse-25830a87e10f46426a55879c689f4896
[Thanks to Alex Teitz for contributing this article! https://www.femmusic.com]
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Ticketmaster and Live Nation Sued By FTC Over ‘Illegal’ Resale Tactics
By Jeroslyn JoVonn, Black Enterprise
The Federal Trade Commission has filed a lawsuit against Ticketmaster and Live Nation, accusing the companies of using “illegal” tactics in the ticket resale market.
The FTC filed the lawsuit in California federal court on Sept. 18, with seven states joining the lawsuit, including Florida, Illinois, and Virginia, CNBC reported. The lawsuit accuses Ticketmaster and Live Nation of conspiring with scalpers to “unlawfully purchase” tickets and inflate their profits.
“[Ticketmaster and Live Nation’s] illegal conduct frustrates artists’ desire to maintain affordable ticket prices that fit the needs of ordinary American families, costing ordinary fans millions of dollars every year,” the lawsuit states.
The lawsuit accuses Ticketmaster of using a “bait-and-switch” strategy by advertising lower ticket prices before raising them with added fees. It also claims the company lets brokers exceed ticket limits to boost resale profits and violates the Better Online Ticket Sales Act.
Ticketmaster is accused of “triple dipping” by profiting from fees paid by brokers on the primary market, brokers on the secondary market, and consumers on resold tickets. From 2019 to 2024, Ticketmaster raked in $3.7 billion in profits, while artists and fans bore the costs, the FTC said.
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Go here to read more:
https://www.msn.com/en-us/money/companies/ticketmaster-and-live-nation-sued-by-ftc-over-illegal-resale-tactics/
September 25, 2025| Music-Related Business| Barb Dye