www.hollywoodreporter.com: Liberty Media, the company controlled by billionaire mogul John Malone that has ownership stakes in assets like Live Nation, audio entertainment giant SiriusXM and the Formula 1 racing circuit, reported second-quarter financials on Thursday.
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When I first heard that Live Nation was sued for violating antitrust laws, I was hopeful that there would actually be changes made that would benefit the consumer. The process of buying tickets for shows has steadily gotten worse and worse over recent years and this has only been exacerbated by Live Nation’s monopoly over the industry. From insane fees to bots mass purchasing tickets, it’s a hugely flawed system that needs to be changed. It’s no surprise to me that the CEO and the company have absolutely no intentions of changing their system to benefit the consumer. I thought when I first heard about the lawsuit that the government would step in and force the company to break up. I am still hopeful that this kind of intervention will happen and we will see this broken system change soon because without major change, the experience of seeing live entertainment will only continue to get worse.
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