Albert leffler ticketmaster biography
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Ticketmaster
Ticketmaster was founded by a group of college staffers and a businessman in 1976 as a company that sold ticketing hardware. By 1985, the company had moved its headquarters to Los Angeles, switched to computerized ticketing, and ran operations beyond the U.S. in Europe and Canada. In the early 2000s, Ticketmaster acquired various competitors, which helped the company dominate the live entertainment market. In 2009, Ticketmaster merged with event promoter Live Nation in a controversial move. The U.S Department of Justice approved the merger a year later with conditions, including one that would enforce the companies to preserve competition.
Over the years, Ticketmaster has faced criticism for its deceptive pricing, alleged anti-trust violations, and fraud. Several fan bases of major musicians like Taylor Swift and Drake have filed class action lawsuits against the company after grueling experiences trying to purchase concert tickets. For the online pre-sale date of Swift's highly-anticipated The Eras Tour, Ticketmaster's official website crashed, causing a calamitous situation that stopped thousands of fans from being able to purchase tickets. Subsequently, the U.S. Senate held a committee hearing to discuss "the long-simmering dissatisfaction over the
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Music Business Research
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Is Ticketmaster a Monopoly?
Ticketmaster, part of Live Nation Entertainment, is a premier booking and ticketing service provider for the arts and entertainment industry. With its global reach, Ticketmaster powers ticket sales for stadiums, performing arts centers, and museums.
According to Yale University, Ticketmaster has controlled over 70% of the market for tickets and live events and over 80% for live concerts since 1995. Because of its consistent dominant market position, the company has faced criticisms for monopolistic practices.
Key Takeaways
- Ticketmaster is the world’s largest and dominant ticketing services provider.
- The company earns money by charging service fees on ticket sales, promoting artists, and managing venues.
- In 2024, the U.S. Department of Justice filed a lawsuit against Ticketmaster and Live Nation for monopolizing the ticket industry.
Timeline and History
- 1976: Computer programmer Peter Gadwa and box office specialist Albert Leffler established a software company that licensed ticketing systems to retail outlets and universities to sell paper tickets to event-goers.
- 1982: The company appointed Fred Rosen as CEO and established its headquarters in Los Angeles. Ticketmaster sold its systems to vendors and charged fees to consumer