Live Nation was the standout music stock for the week ended Dec. 5, though it rose only a modest 6.0% to $139.33. Its share price was up even as the company faces a barrage of legal issues, including an antitrust lawsuit by the U.S. Department of Justice, another lawsuit filed by the U.S. Federal Trade Commission and yet another brought by Taylor Swift fans. At the same time, though, Ticketmaster isn’t suffering as much as its peers in the secondary market. Amid efforts to cap profits on ticket resales, StubHub shares are down 47.1% from the company’s Sept. 16 IPO price, and Vivid Seats shares have fallen 91.8% this year. Ticketmaster operates a secondary market, but the company encourages artists to raise the price of primary tickets to capture revenue that would otherwise go to scalpers.
Live Nation Shares Up 6%, Spotify Down 6% as Music Stocks Fall Yet Again
Billboard1 hrs ago
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