‘The concert ticket industry is broken,’ justice department says as Ticketmaster trial begins

Entertainment giant keeps average of $7.58 of each ticket for events at major concert venues, court hearsSign up for the Breaking News US email to get newsletter alerts in your inboxTicketmaster keeps an average of $7.58 of the price of each ticket for events at major concert venues, an attorney for New York state told jurors at a trial on Tuesday where dozens of states are seeking to recoup damages for fans.Ticketmaster and its parent company, Live Nation, are accused of abusing their market power to prop up illegal monopolies in the concert industry. The trial in Manhattan could result in the US Department of Justice arguing for a breakup of Live Nation and Ticketmaster or the companies paying compensation to ticket purchasers. Continue reading...