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Top related persons:
Jack Groetzinger - 2 SeatGeek - 2 Department’s - 1 Justice Department didn’t - 1 Taylor Swift’s - 1 Swift - 1 Joe Berchtold - 1 ” - 1
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New - 1 New York CNN - 1 US Department of Justice - 1 Wall Street Journal - 1 Live Nation Entertainment - 1 Ticketmaster - 1 Justice Department - 1 Live - 1

Search resuls for: "Jack Groetzinger"


7 mentions found


☆ WSJ: Justice Department will sue Live Nation for antitrust violations
  + stars: | 2024-04-16 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +2 min
New York CNN —The US Department of Justice is preparing to sue the country’s largest concert promoter and ticketing website Live Nation in the coming weeks for breaking America’s antitrust laws, the Wall Street Journal reported, citing anonymous sources familiar with the Justice Department’s plans. The lawsuit against Live Nation Entertainment, the parent company of Ticketmaster, will allege the ticketing company used its market-leading position to harm competition for live events, the Journal reported. Shares of Live Nation (LYV) dropped nearly 7% in premarket trading Tuesday. Live Nation and the Justice Department didn’t respond to CNN’s request for comment about the Journal’s report. Live Nation and Ticketmaster merged in 2010, now billing itself as the “largest live entertainment company in the world.”
Persons: Department’s, Justice Department didn’t, Taylor Swift’s, Swift, Joe Berchtold, ”, Jack Groetzinger, SeatGeek Organizations: New, New York CNN, US Department of Justice, Wall Street Journal, Live Nation Entertainment, Ticketmaster, Justice Department, Live, Republicans, Rivals Locations: New York, United States
☆ Price transparency is about doing what's best for consumers industry wide: SeatGeek CEO Groetzinger
  + stars: | 2023-06-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPrice transparency is about doing what's best for consumers industry wide: SeatGeek CEO GroetzingerJack Groetzinger, SeatGeek co-founder and CEO, joins 'Last Call' to discuss the White House's pressure on U.S. ticket sellers to end hidden fees.
Persons: Jack Groetzinger, SeatGeek
☆ Live Nation posts $3.1 billion revenue and record attendance despite controversies Live Nation posts $3.1 billion revenue and record attendance despite controversies
  + stars: | 2023-05-06 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +4 min
New York CNN —Live Nation posted a record $3.1 billion in revenue – up 73% from last year – in the first quarter of 2023, despite possible regulation and tremendous fallout from botched Ticketmaster sales for the Taylor Swift Eras tour. In an earnings release, the ticket-industry giant said over 19 million people attended events across 45 countries in the first quarter. In a single day last November, more than two million Taylor Swift tickets were sold on Live Nation’s Ticketmaster, a record for any artist. Live Nation stock rose about 15% on the news, to close at about $77 a share. Congressional hearingsLawmakers grilled Live Nation president and CFO Joe Berchtold in a three-hour hearing in January, alleging the ticketing giant wields too much monopolistic control over the industry.
☆ Live Nation president apologizes to Taylor Swift and her fans for ticketing fiasco and says the industry is still competitive
  + stars: | 2023-01-24 | by ( Juliana Kaplan | ) www.businessinsider.com   time to read: +6 min
Live Nation president and CFO Joe Berchtold apologized to Taylor Swift and fans for the ticket debacle. Berchtold said that the company faced bot attacks during the Swift ticket sale, impacting service, and apologized to Swift and fans. This power over the entire live entertainment industry allows Live Nation to maintain its monopolistic interests over the primary ticketing market," Groetzinger said. "This is all a definition of monopoly, because Live Nation is so powerful that it doesn't even need to exert pressure," Klobuchar said. Lawrence, who's written for the New York Times on Live Nation and its impact on artists, said Live Nation often functions as three different things: promoter, venue, and ticketing company.
☆ Ticketmaster-parent exec to blame 'industrial-scale ticket scalping' in testimony
  + stars: | 2023-01-24 | by ( ) www.reuters.com   time to read: +2 min
WASHINGTON, Jan 24 (Reuters) - The president of Ticketmaster parent Live Nation (LYV.N), Joe Berchtold, is expected to testify on Tuesday before Congress that "industrial-scale ticket scalping" was to blame for the company's problems late last year in managing the sale of Taylor Swift concert tickets. Ticketmaster, which has been unpopular with fans for years, has drawn fresh heat from U.S. lawmakers over how it handled ticket sales for Swift's "Eras" tour, her first in five years. Experts say that Ticketmaster commands more than 70% market share of primary ticket services for major U.S. concert venues. In November, Ticketmaster canceled a planned ticket sale to the general public for Swift's tour after more than 3.5 billion requests from fans, bots and scalpers overwhelmed its website. A previous Ticketmaster dispute with the Justice Department culminated in a December 2019 settlement extending the consent agreement into 2025.
☆ Live Nation exec will face lawmakers about Taylor Swift concert tickets fiasco
  + stars: | 2023-01-24 | by ( Parija Kavilanz | ) edition.cnn.com   time to read: +7 min
“It goes without saying that I’m extremely protective of my fans,” Swift wrote on Instagram in November. The mergerCriticism of Ticketmaster’s dominance dates back decades, but the Swift ticketing incident has once again turned that issue into a dinner table discussion at many households. Concert promoter Live Nation and ticketing company Ticketmaster, two of the largest companies in the concert business, announced their merger in 2009. ‘Customers are the ones that pay the price’While irate fans were left scrambling to wade through the Swift ticket confusion, their collective anger caught lawmakers’ attention. To me, what happened with the Swift concert tickets was not necessarily the result of Ticketmaster being the dominant player in the industry,” he said.
☆ Ticketmaster under fire: 6 takeaways from hearing over Taylor Swift concert fiasco
  + stars: | 2023-01-24 | by ( Samantha Murphy Kelly | ) edition.cnn.com   time to read: +9 min
The venues controlled by Live Nation set fees that are “consistent with the other venues in the marketplace,” he said. Entertainment industry pushes back at Ticketmaster’s dominanceMembers of the entertainment industry and one rival spoke out against Ticketmaster’s dominance in the industry. Andrew Harnik/APClyde Lawrence, a singer-songwriter on the witness panel, explained how the company acts as a promoter, a venue and the ticketing company, which eats into performing artists’ revenues. Artists, he said, have no leverage over Live Nation. Lawmaker says Ticketmaster merger should ‘be on the table’Lawmakers repeatedly questioned the US government’s past handling of the Live Nation merger with Ticketmaster.
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