A former ticketing startup, Fanimal, has sued Live Nation and Ticketmaster, claiming their monopoly practices drove it out of business. The lawsuit, filed on December 30 in federal court, alleges that exclusive contracts prevented Fanimal from competing effectively in the live events industry.
The antitrust lawsuit against Live Nation and Ticketmaster marks another challenge to the companies' dominance in the live events sector. Fanimal, founded in 2018, positioned itself as an innovative platform emphasizing transparent pricing and straightforward group ticket splitting for fans. Backed by venture capital, it quickly grew to over 250,000 users and eyed a valuation exceeding $100 million. However, the suit claims that Live Nation's control over concert promotions forced major venues to rely exclusively on Ticketmaster, blocking Fanimal's access to key opportunities despite its capacity to handle large-scale events.
"Fanimal was an innovative ticketing start-up focused on fans," the complaint states, highlighting its rapid rise and subsequent fall. This alleged anticompetitive barrier not only stifled growth but also deterred further investment, leading Fanimal to shut down its operations and sell its assets to TickPick in 2024 for what it describes as "a modest amount."
The case echoes broader scrutiny of the 2010 Live Nation-Ticketmaster merger. A major Department of Justice lawsuit aims to break up the companies and is set for trial in May. Consumer class actions have advanced, including certification for a wide group of ticket buyers last month and a victory for Taylor Swift fans in November, who continue pursuing claims related to the Eras Tour presale debacle.
Representatives for Live Nation and Ticketmaster declined to comment on the new filing as of January 5. The companies have consistently denied monopolistic behavior, maintaining that competition in live events has intensified since their merger.
