Live Nation Settles Monopoly Charges, Tickets Get Cheaper

0:00From Durham, this is your March 12 update. Livnation and the U.S. government reached a settlement this week over monopoly charges against the ticket giant. The deal aims to give artists, venues, and fans more options for buying concert tickets without breaking up the company. It comes just days into a trial and still needs court approval. Livnation has owned ticket masters since 2010, making it the biggest player in live events. The company handles hundreds of millions of tickets a year and controls many large venues worldwide. Fans have long complained about high fees and limited choices when grabbing seats to shows. Critics are not impressed, calling it a win for Livnation over everyday buyers, more than two dozen states planned to keep pushing back in court. Even the company amidst the original lawsuit had no merit, but says the agreement keeps costs down for fans. Under the terms, big venues with at least 8,000 seats can now use rivals like Seed Geek for some tickets. Livnation amphitheaters will cap service fees at 15%, and promoters get to handle up to 50% of tickets their way.

1:06Exclusive ticket master deals stay an option for four more years. Experts say this is just a start, and real fixes for ticket headaches need more than one lawsuit. Meanwhile, ticket master also promised tech upgrades to work better with other sellers. We'll keep watching how it plays out for your next concert. This story is made possible by our sponsor. You know what is better than earbuds and bed? No earbuds at all. S-O-L-L-I-SoliPillow.com