News: Two California bills are being advanced with the support of Live Nation. AB 1349 would ban the sale of speculative tickets (those not yet in the seller's possession), while AB 1720 would cap resale markups at 10% above the original price. Supporters, including the National Independent Venue Association, argue these measures will protect fans from price gouging and ensure ticket authenticity. Opponents, including StubHub, SeatGeek, Vivid Seats, and consumer advocacy groups, contend the bills will solidify Live Nation Ticketmaster’s market dominance, potentially limiting consumer choice and increasing fees. A recent antitrust ruling found Live Nation illegally acted as a monopoly. Live Nation has spent $165,000 lobbying for the bills this legislative session.
AI Analysis: The bills present a complex situation. While aiming to address legitimate concerns about ticket scalping, they risk further concentrating power within Live Nation, potentially negating the intended benefits for consumers. The antitrust case adds another layer of scrutiny to Live Nation's involvement.
