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Feb 23 • 4 tweets • 2 min read
🚨BREAKING: Live Nation-Ticketmaster reports total 2022 income of $732 MILLION, which is 125% higher than 2019, their pre-pandemic year and most-profitable on record.
livenationentertainment.com/2023/02/live-n…
This is just another proof point that Live Nation-Ticketmaster is raking in cash at the expense of fans, artists, and everyone who ACTUALLY makes live events special.

Wonder why that hasn't made it into the report.
Don’t believe the analyst jargon. There’s only ONE reason that Live Nation-Ticketmaster reported these massive earnings this quarter: monopoly power.

Thanks to the Live Nation-Ticketmaster merger of 2010, they've had free rein to dominate the live events market.
This record-breaking year comes from cheating money out of fans, squeezing artists out of income and gatekeeping independent venue owners from the industry.

Join us and hundreds of thousands of people who think it’s time to #BreakUpTicketmaster.
actionnetwork.org/letters/tell-t…

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More from @econliberties

American Economic Liberties Project Profile picture
Feb 22
🚨NEW: As state legislatures kick off, @Pat_Garofalo and @LeeHepner detail how state lawmakers can rein in monopoly power by tackling big corporations’ unfair tactics — and which states are already doing so.

Read the full oped in @Governing.⬇️🧵
governing.com/now/a-new-oppo…
The piece explains how states can use an “abuse of dominance” standard to ensure big corporations can’t exploit their size to gain an unfair advantage, box out would-be competitors, stifle innovation, or harm workers.

Minnesota, New York, and Pennsylvania are already doing so.
Here’s an example of how an abuse of dominance standard would work from @Pat_Garofalo and @LeeHepner’s State & Local Toolkit — which has TONS of other resources to help state lawmakers take on corporate power.
economicliberties.us/our-work/big-t…
Read 5 tweets
American Economic Liberties Project Profile picture
Feb 21
🚨NEWS: Antimonopoly champion @RepCicilline just announced he’ll be resigning later this year.

Throughout his tenure, he’s been a focused leader in the fight to rid American society from monopoly power’s corrupting influence. Here’s some clips that show that leadership.👇 📺 Image
2/ Here’s @RepCiclline calling out how concentrated corporate power corrupts our democracy and harms our society.👇
3/ Here’s @RepCicilline on the importance of empowering antitrust enforcers while monopolies continue to sprout up in nearly every sector of the economy.
Read 8 tweets
American Economic Liberties Project Profile picture
Jan 10
WOW: @SecVilsack told Congress that since the meat market is so consolidated, the government would HAVE to keep buying food from @JBSFoodsUSA — even though it's tied to bribery scandals. [h/t @marcia_brown9]

Here’s some facts on JBS’ power over food.👇🧵
politico.com/news/2023/01/1…
2/ JBS is the world’s largest meat processing company and one of the world’s worst corporate actors.

It’s the poster child for evils wrought from corporate consolidation. It also gets 100s of millions in government contracts and bailouts, washingtonpost.com/politics/this-…
3/ As of 2021, JBS “has more than 400 branches in 15 countries, and slaughters up to 75,000 cattle, 115,000 pigs, 14 million poultry birds and 16,000 lambs every day.

Together, that adds up to over 210,000 tonnes of meat a month.” iatp.org/companies-domi…
Read 9 tweets
American Economic Liberties Project Profile picture
Jan 10
Think you’re already paying too much for your groceries?

Unfortunately, prices will only continue to rise with consolidation in the supermarket industry -- like the Kroger-Albertsons merger. Here’s why enforcers should block it.👇🧵
As with most cases of consolidation in retail, this is a bad deal for consumers, workers, and communities. Here’s @sarahmillerdc in @nytimes:
60% of grocery sales are already concentrated among 5 national chains. Kroger and Albertsons are two of those players.

This merger would be disastrous for market competition, small businesses, and especially -- consumers' pockets.
bloomberg.com/news/articles/…
Read 5 tweets
American Economic Liberties Project Profile picture
Jan 5
BREAKING: The @FTC just proposed a rule outlawing non-compete agreements under the antitrust laws.

Corporations use non-competes to block nearly 1 in 5 workers — or 30 million people — from freely changing jobs, negotiating for better pay, or starting businesses of their own.
2/ By voting in support of today’s rule, Chair @linakhanFTC, @RKSlaughterFTC, and @BedoyaFTC took a historic stand for economic liberty, business dynamism, and fair competition.

Millions of people — and the U.S. economy overall — will be better off because of it.
3/ You might hear claims that non-competes help protect corporate secrets, but that’s spin.

Non-competes protect corporations’ POWER over their employees and make sure bosses and shareholders keep a higher share of the PROFITS that workers generate.
Read 6 tweets
American Economic Liberties Project Profile picture
Dec 14, 2022
With @chopracfpb testifying in Congress today, here’s all you need to know about his work at the @CFPB — in the form of headlines.

TLDR: He’s unafraid to take on Big Banks and Big Tech when they cheat consumers and thwart fair competition.
latimes.com/business/story…
ft.com/content/44043a…
Read 18 tweets

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