Live events sector
Live Nation Entertainment (LNE) could be liable for up $38 million in compensation and costs following the conclusion of a class action lawsuit, brought against the company by disgruntled concert-goers in 2009. However the final cost will depend on the number of eligible ticket buyers taking up the settlement. Two music fans initially filed a lawsuit against LNE when they were charged a $6 parking fee on their ticket purchases for the 17,500-capacity PNC Bank Arts Center in Holmdel, New Jersey, regardless of whether they intended to use the car park. Nearly 363,000 fans were covered by the settlement (in which LNE accepted no wrongdoing) and which entitles each fan to three free tickets and a $5 discount on future purchases. LNE must pay $1.7 million in legal costs and $7,500 to each of the two original claimants. So far only 10% of eligible ticket buyers have applied under the class action scheme.
Audience Issue 171, April 2014