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Live Nation Wants Ticket Resale Prices Capped After Oasis Issues

WATCH: Live Nation CEO Michael Rapino says the ticket seller will prevail over an antitrust lawsuit brought by the US Department of Justice.Source: Bloomberg

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By Ashley Carman

October 10, 2024 at 2:58 AM UTC

Live Nation Entertainment Inc. Chief Executive Officer Michael Rapino predicted the British band Oasis will be the biggest concert tour of the year in 2025, but said surging sales of tickets on the secondary market illustrate the need for the US Congress to step in and regulate the industry.

“Multibillions” of robots targeted the tickets for the band’s upcoming tour when they went on sale, Rapino said. Other ticket sellers immediately began offering seats at higher prices. He urged government officials to regulate the business by capping ticket resale prices at a 20% markup.