summary
Introduced
02/08/2024
02/08/2024
In Committee
02/08/2024
02/08/2024
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
This resolution urges Congress to respond to the consolidation of the ticket industry. In 2010, Live Nation Entertainment, the world's largest event promoter and venue operator, merged with Ticketmaster, the world's largest ticketing platform. This merger allowed both companies to become even more powerful, controlling an estimated 70 percent of the ticketing and live event venue markets. Prior to the Covid-19 pandemic disrupted the live entertainment industry, Live Nation reported that it put on more than 40,000 events around the world and sold 485 million tickets. The company also owns more than 300 venues around the world, the most in the industry. In the years since the merger with Ticketmaster, Live Nation has been accused multiple times of abusing its market dominance and bullying smaller competitors. In 2019, the United States Department of Justice alleged that Live Nation "repeatedly violated" the consent decree the company entered with the federal government at the time of the merger. These alleged violations include threatening to withhold tours from performing at competing venues if those venues did not sign deals with Ticketmaster. Live entertainment is a multi-billion dollar industry in the United States, and New Jersey contributes to that with its dozens of venues hosting a wide variety of shows. However, Live Nation's practices and its dominance of the market make it so the majority of the profits do not go to performers or independent venue owners. These practices also harm consumers by making it difficult to purchase affordable tickets at initial sales, forcing them to pay inflated prices due to surge pricing or additional fees, or purchase tickets on resale markets that result in even higher prices.
AI Summary
This resolution urges the United States Congress to take action regarding the consolidation of the ticket industry, specifically focusing on the 2010 merger between Live Nation Entertainment and Ticketmaster. The resolution highlights that these companies now control approximately 70 percent of the ticketing and live event venue markets, which has led to numerous problematic practices. These practices include imposing excessive fees, using surge pricing, lacking transparency in ticket sales, and manipulating the ticket resale market. The resolution emphasizes that such actions harm consumers by making it difficult to purchase tickets at fair prices and also negatively impact performers and independent venue owners. The context provided includes the significant economic contribution of the entertainment sector, which generated over $260 billion nationally in 2022 and $6.8 billion in New Jersey alone. The resolution notes that the U.S. Senate Judiciary Committee has already held a hearing on this issue in January 2023, and it calls on Congress to develop comprehensive solutions to address these market challenges. As part of the resolution's implementation, copies will be sent to key congressional leaders and New Jersey's congressional representatives.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Introduced, Referred to Assembly Consumer Affairs Committee (on 02/08/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/AR102 |
| BillText | https://pub.njleg.gov/Bills/2024/AR/102_I1.HTM |
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