About Jack Groetzinger
Jack Groetzinger, co-founder and CEO of SeatGeek, has been a vocal critic of Ticketmaster and its parent company Live Nation, arguing that the company maintains a monopoly in the live event ticketing industry. In a December 2024 appearance on CNBC's "Squawk Box," Groetzinger said that the Department of Justice's lawsuit against Live Nation was warranted, stating that SeatGeek has had "a front row seat to the illegal behavior." He claimed that Ticketmaster controls roughly 80% of the market and that Live Nation uses its control over concert promotion to pressure venues into using Ticketmaster, saying "venues fear losing Live Nation concerts if they don't use Ticketmaster." Groetzinger has called for structural remedies, specifically the dissolution of the common ownership of Ticketmaster and Live Nation, arguing that "behavioral remedies cannot solve the problems inherent in an anti-competitive merger."
Groetzinger has also advocated for greater price transparency in the ticketing industry. In December 2023, he participated in a White House announcement where ticketing companies committed to showing all-in pricing upfront, saying "we are major believers in transparency and knowing what you will pay." He has described SeatGeek as a technology company focused on improving the fan experience, noting that the company has signed dozens of major venues as clients by building better technology. Regarding ticket prices, Groetzinger has said that high prices are driven by supply and demand, noting that for events like Taylor Swift concerts, "there's probably 10x or 20x more people who would want to see her perform live versus can actually go." He has also expressed skepticism about using blockchain for ticketing, arguing that live events are inherently centralized because venues ultimately control access.
Source: AI-verified profile updated from Jack Groetzinger's recent appearances.
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Transcript (18 segments)
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Interviewer0:14
The Justice Department suing Ticketmaster owner, Live Nation, saying the company maintains a monopoly in the industry, controlling roughly 80% of venues' ticketing. We have Jack Groetzinger, the CEO of SeatGeek. Thank you for being here.
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Jack Groetzinger0:32
Thanks for having me.
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Interviewer0:33
I was just explaining to you how I look at SeatGeek and how great it made things for me in order of being able to buy tickets, and they have boosted ticket prices to some extent because ticket scalpers have a way to do it. Explain to me what is happening right now in terms of the Justice Department looking at Ticketmaster and why you think that that is monopolistic behavior. What has Ticketmaster done?
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Jack Groetzinger1:05
We have had a front row seat to the illegal behavior.
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Interviewer1:19
I look at ticket prices and think they are too high, and I don't have a whole lot of empathy for Ticketmaster. What do you see they do that makes it illegal competition?
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Jack Groetzinger1:30
They illegally tie content, meaning shows, to the company doing ticketing for a venue. That has not stopped them from doing that, and that's a shame because it means a worse experience for fans, higher prices, fewer shows, and a service that doesn't have an incentive to invest in getting better, because they know they can run their business if they go down or have higher prices. You don't see the industry getting better. That's why I believe in free markets, and I believe more people competing to build better stuff means better outcomes for fans, bands, and everybody in the ecosystem.
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Interviewer2:12
Ticketmaster said their share has gone down.
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Jack Groetzinger2:17
Not surprised they are saying that. Per the DOJ, they have 80% of the market share. Until 2017, they had almost every major venue in the U.S., and they were not losing deals. We are fortunate to have dozens of major venues.
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Interviewer2:37
How did you do that? I remember when that happened.
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Jack Groetzinger2:42
We focused on technology. We are a technology company that happens to be focused on live events. If we can focus on something a lot better, people notice and switch. We have been able to get venues to see that and switch over for a better experience for their fans.
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Interviewer3:05
That sounds like an argument of why they should not be broken up. If you were able to make this progress because you are better and investing more technology on that side, what would be different if the Justice Department broke them up, other than to weaken a competitor?
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Jack Groetzinger3:24
I would love for us to have to prove ourselves against many companies out there.
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Interviewer3:29
Didn't you just describe, though, the margin you think they are taking and the margin you are taking? What would the difference be if this was broken up?
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Jack Groetzinger3:40
The thing they do is they have Ticketmaster that sells tickets, and they own venues and are a promoter and manage artists. They are taking fees across.
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Interviewer3:55
I tried to ask the question of the DOJ last week. Let's say there's a ticket price going for, I don't know, $500. Maybe it's a Taylor Swift and it's $500 plus dollars. Are you taking a lower margin than they are taking?
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Jack Groetzinger4:16
We are at or below the rest of the market in our prices.
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Interviewer4:20
The bigger question is the consumer harm, right? We are sitting around and going the prices are too high. How much lower would the prices be if there was more competition? Part of the reason I am asking this is because I actually fear that the prices are actually at a market price. You may disagree, and that's what I am hoping you will say.
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Jack Groetzinger4:43
I do disagree. I think if prices go down, the specific amount will vary by event. And the other part that is really important is the service.
