Live Nation Points to High Concert Demand Amid Possible DOJ Lawsuit Threat

Live Nation CFO and President Joe Berchtold addressed the potential pending lawsuit from the Department of Justice against Live Nation, stating that the company is about to begin talks with senior division leadership at the DOJ. Berchtold expressed his belief that separating Live Nation and Ticketmaster would not be a legally permissible remedy.

The DOJ investigation is said to be focused on specific business practices rather than the merger between Live Nation and Ticketmaster, which was approved in 2010. Berchtold emphasized that most of the issues raised by the DOJ were anticipated and addressed by the consent decree allowing the merger to proceed.

Despite the upcoming meetings with division leadership, Live Nation remains prepared to defend itself in court if necessary. The Justice Department is reportedly preparing to file an antitrust lawsuit against Live Nation as soon as May, with allegations concerning how the company’s dominance has undermined competition in ticketing live events.

Live Nation has faced scrutiny for violating the terms of its merger with Ticketmaster, leading to a proposed class action lawsuit from investors. Despite these legal challenges, the company reported first quarter revenue of $3.8 billion, up 21 percent year over year, driven by strong fan demand.

CEO Michael Rapino remains optimistic about the company’s future, citing continued strong demand for live events globally. Live Nation expects double-digit growth in operating income and sees strong concert ticket sales for arena and amphitheater shows throughout 2024. Fans can look forward to more live events and venues being added to the lineup in the coming year.