Ticketmaster is on to something with its plan to tie ticket prices to the popularity of an event. The company, a division of Live Nation Entertainment, said recently that it would introduce technology enabling artists and sports teams to raise or lower ticket prices depending on demand.
A class action lawsuit has been filed against Live Nation Entertainment Inc. and its local licensee alleging that the ticket agencies have been illegally charging customers high service fees despite not being licensed to sell tickets in City. Among other things, Defendants used their dominating market position in the business of ticket sales to impose service charges on top of the face value of tickets in violation of City law, and to represent that those 'service charges' were legitimate and collectible, to enrich themselves at the expense of the Plaintiff and other class members," the complaint states.
LONDON - The Rolling Stones, whose hits include "Satisfaction" and "Sympathy for the Devil," are in talks with promoters AEG Live and Live Nation Entertainment for their next tour, according to a source who declined to be identified because talks are private. The Stones are planning a tour in the next few years and haven't yet signed a contract, the source said. An auction for the next tour has been under way for about a month and a group of independent promoters is also bidding, the source said.
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