The Justice Department's investigation into Live Nation and Ticketmaster's business practices continues, with new developments suggesting increased scrutiny of the entertainment giant's operations.

According to a recent Wall Street Journal report, the DoJ is specifically examining:

• Live Nation's contractual terms with artists
• Potential restrictions on venues working with other promoters
• The company's pricing and fee structure
• Artist payment arrangements through controlled venues

Live Nation's CFO Joe Berchtold responded during their Q3 2023 earnings call, stating that the investigation appears to be "in its mid-stages" and focusing on specific business practices rather than the overall business model. He emphasized that their fundamental promotion business practices are lawful, noting they "pay top dollar to artists and provide them with top-notch tour support."

The company reported strong Q3 2023 financial results:

• Total revenue: $8.15 billion
• Concert revenue: $6.97 billion (32% YoY increase)
• Ticketing revenue: $832.6 million (57% YoY increase)

A Live Nation spokesperson defended their artist payment practices, stating: "Artists get paid based on competitive bidding, and it would be strange, to say the least, for antitrust agencies to say that anyone should pay artists less."

The DoJ has recently sent document retention letters to talent agencies and continued gathering information from various industry stakeholders, including promoters and venues, about their interactions with Live Nation.

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