Live Nation is supporting two California bills to lower prices. Can fans trust it? [Los Angeles Times (CA)]
Live Nation Entertainment, Inc. (LYV)
Last live nation entertainment, inc. earnings: 10/31 04:01 pm
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Source: Los Angeles Times
Earlier this year, tickets to see SZA perform at the Crypto Arena in Los Angeles were selling for $600 the day before they officially went on sale at $35 a piece. In San Francisco, tickets to see Sam Smith at the newly renovated Castro Theater went on sale for $120, only to be quickly snatched up by scalpers and resold for upwards of $600. Those are some of the stories that California lawmakers are citing as they advance two plans to change the ticketing landscape. One caps the extent to which resellers can mark up the original ticket price while the other prohibits resellers from selling tickets they don't yet own. Democratic Assemblymembers Issac Bryan of Culver City and Matt Haney of San Francisco are each carrying bills that they say would protect consumers from fraudulent and deceptive ticket sales. Both measures are backed by the ticket market's dominant seller, Beverly Hills-based Live Nation, which owns Ticketmaster. Its support has some worried that the bills will he
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