The Federal Commerce Fee (FTC) and 7 states sued Ticketmaster and its father or mother firm, Dwell Nation Leisure, on Thursday, for allegedly failing to crack down on ticket resellers and “partaking in unlawful ticket resale ways” by promoting the “illegally harvested tickets at a considerable markup within the secondary market, inflicting customers to pay considerably greater than the face worth of the ticket.”
Quick Firm has reached out to Ticketmaster and Dwell Nation for remark and is awaiting their response.
The FTC press launch alleged Ticketmaster used “misleading pricing ways” and earned “lots of of tens of millions promoting tickets acquired illegally by brokers” which value customers “billions of {dollars} in inflated costs and extra charges.”
The company additional alleged in a grievance that California-based Ticketmaster and its father or mother firm “deceived artists and customers” by partaking in “bait-and-switch pricing” by promoting decrease costs for tickets than what customers should pay to buy tickets; imposing “strict limits” on the variety of tickets customers may buy for an occasion—although ticket brokers “routinely and considerably exceeded these limits”—and offered tens of millions of tickets on its platform, “usually at a lot greater value to customers.”
The FTC’s grievance alleged Ticketmaster’s practices violate the FTC Act’s prohibition on misleading acts or practices within the market and the Higher On-line Ticket Gross sales Act (BOTS Act)—and is in search of civil penalties, plus any extra financial reduction the court docket finds applicable.
Ticketmaster is the main supplier of live performance and occasion tickets. Based in 2010, following the merger of Dwell Nation and Ticketmaster, Dwell Nation Leisure, Inc. promotes, operates and manages ticket gross sales for reside leisure within the U.S. and internationally.
“President Donald Trump made it clear in his March Government Order that the federal authorities should defend Individuals from being ripped off after they purchase tickets to reside occasions,” FTC Chairman Andrew N. Ferguson mentioned in an announcement. “It mustn’t value an arm and a leg to take the household to a baseball recreation or attend your favourite musician’s present.”
Shares of Dwell Nation (LYV) have been down over 2.5% in noon buying and selling on Thursday on the time of this writing.
Quick Firm beforehand reported the FTC filed a lawsuit over the summer time alleging brokers illegally scooped up tickets for Taylor Swift’s Eras Tour and resold them for tens of millions in revenue; and on a backlash over Oasis ticket gross sales.
Dwell Nation Leisure financials
For the second quarter for 2025, ending on June 30, Dwell Nation Leisure reported income of $7 billion, up some 16%, a rise year-over-year with an working revenue of $487 million, up 4%. It reported an earnings-per-share (EPS) of $0.41, which missed estimates of $1.08 by $0.67. It had a market capitalization of 38.74 billion on the time of this writing.
