Ticketmaster UK: A Monopoly in the Live Event Industry

Introduction

Ticketmaster UK is a leading provider of ticketing services for live events in the United Kingdom. The company has been in operation for over 40 years and has a market share of over 80%. This gives Ticketmaster a monopoly in the live event industry, which has led to concerns about high prices and limited choice for consumers.

Ticketmaster's Market Power

Ticketmaster's market power is due to a number of factors, including its long history in the industry, its exclusive contracts with many venues, and its control over the secondary market for tickets. This gives the company the ability to set prices and restrict competition.

One of the most significant factors contributing to Ticketmaster's market power is its exclusive contracts with many venues. These contracts give Ticketmaster the exclusive right to sell tickets for events held at these venues. This means that other ticketing companies are unable to compete for these events.

Ticketmaster also has a strong presence in the secondary market for tickets. This is the market where tickets are resold after they have been purchased from the primary market. Ticketmaster operates a number of secondary ticketing websites, which gives it a significant advantage over other companies in this market.

The Effects of Ticketmaster's Monopoly

Ticketmaster's monopoly in the live event industry has a number of negative effects on consumers. One of the most significant problems is that it leads to high prices. Ticketmaster has been accused of charging excessive fees for its services, which can make it difficult for consumers to afford tickets to live events.

Another problem with Ticketmaster's monopoly is that it limits choice for consumers. Ticketmaster often only sells tickets for a limited number of events, and it can be difficult to find tickets for popular events. This can make it difficult for consumers to see the events they want to see.

Competition and Regulation

There are a number of ways to increase competition in the live event industry. One way is to encourage new companies to enter the market. This can be done by making it easier for new companies to obtain exclusive contracts with venues. Another way to increase competition is to regulate Ticketmaster's behavior. This could include setting limits on the fees that Ticketmaster can charge and requiring the company to be more transparent about its business practices.

Conclusion

Ticketmaster UK has a monopoly in the live event industry, which has led to high prices and limited choice for consumers. There are a number of ways to increase competition in this industry, including encouraging new companies to enter the market and regulating Ticketmaster's behavior. By taking these steps, we can create a more fair and competitive live event market for consumers.