Who Is Making Money on Your Concert Ticket?

Answer the following questions to check your understanding of the story.

In 2023, 88,405 Concert & Event Promotion businesses operated in the United States. In what type of market are concert tickets sold?

The market in which concert tickets are sold looks like it is __________.

a) Oligopoly

b) Monopoly

c) Perfect competition

d) Monopolistic competition

In 2023, Ticketmaster sold close to 70 percent of U.S concert tickets while 8 or 9 other firms shared 30 percent. Why does the Justice Department allege that Live Nation suffocates competition?

a) Live Nation dominates ticket sales, concert promotion, and venues.

b) Live Nation benefits from the resale of concert tickets it originally sold to fans.

c) Live Nation does not supply the quantity of tickets that fans want to buy for each concert.

d) Live Nation sells more U.S. tickets than other firms in the United States.

Concert prices have increased approximately 34% since 2018, so why does Live Nation claim it is not suffocating competition?

a) Since covid, the demand for concert tickets has increased, and both the prices and quantities sold have increased.

b) The artist sets the ticket price, not Ticketmaster.

c) Concert fans have a preference for live concerts.

d) Live Nation has promoted more concerts each year, but concert tickets prices have not changed much.

Who Is Making Money on Your Concert Ticket?

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