Enter Live Nation Entertainment-Ticketmaster into the row of monopolies. It is a monopoly both in terms of dominating ticket sales and in terms of controlling the product from start to finish. Live Nation manages the careers of many artists (U2, Justin Timberlake, Madonna, Miley Cyrus, the Beatles, and Jay-Z have been among its clients). It owns and operates entertainment venues. No, it does not own a recording label, but beyond that, it pretty much controls some of what it sells from start to finish.
They call it a horizontal monopoly when you control the sales market. And, they call it a vertical monopoly when you control your product from start to finish. Ticketmaster-Live Nation Entertainment has been a bit of both since the merger of Ticketmaster and Live Nation in 2010. It is believed to control 30 percent of all ticket sales -- well better than any other firm -- and directs some musicians all the way to the venue they sing in.
Monopoly-monopoly; call it a double monopoly.
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