Few acts are as openly monopolistically brazen as the saga of Live Nation and Ticketmaster. Not only did the 2010 merger between the two live event ticketing companies create a behemoth but it was also rubber-stamped in the shadow of alleged corruption. Rahm Emanuel, President Obama’s chief of staff, whose brother, Ari Emanuel the founder of Endeavor (which owns both UFC and WWE) just so happened to serve on the board of the newly minted corporate monstrosity. This cozy familial arrangement set the stage for what would become a catastrophic antitrust record for the Obama administration’s first term.
The Ticketmaster monopoly saga began in the 1990s with a merger that went unchallenged. In 1991, Ticketmaster acquired its main rival, Ticketron, consolidating 90% of the ticketing business under one roof.
By 1994, Ticketmaster's exorbitant fees had sparked a rebellion from none other than Pearl Jam, then the biggest band in the world. Outraged by the high prices and hidden fees imposed on their fans, Pearl Jam sought to charge a modest $1.80 service fee on $18 tickets, a far cry from Ticketmaster's gouging. When Ticketmaster refused, the band boycotted the ticketing giant, testifying before Congress and launching a lobbying campaign to highlight the firm's acquisitions and shady tactics.
Ticketmaster retaliated by essentially blacklisting Pearl Jam, bribing venues to exclusively use Ticketmaster’s booking system. This forced the band to perform in makeshift venues like sports fields, leading to a disastrous 1995 tour. Pearl Jam’s campaign against the monopoly, while noble, ended in financial ruin for the band – a poignant moment that underscored the unchecked power of monopolistic corporations.
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