Ticketmaster, which merged with Live Nation in 2010, is the largest ticketing company in the world, processing half a billion tickets worldwide each year.
It owns or controls more than 265 concert venues in North America and handles around 80pc of big venues’ primary ticketing for concerts, according to the lawsuit.
The legal action highlights the aggressive approach taken by US President Joe Biden as he cracks down on alleged anti-competitive behaviour by companies in sectors ranging from “big tech” to supermarkets.
A Live Nation spokesman said: “The DOJ’s lawsuit won’t solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows.
“Calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term, but it will lose in court because it ignores the basic economics of live entertainment, such as the fact that the bulk of service fees go to venues, and that competition has steadily eroded Ticketmaster’s market share and profit margin.
“Our growth comes from helping artists tour globally, creating lasting memories for millions of fans, and supporting local economies across the country by sustaining quality jobs.
“We will defend against these baseless allegations, use this opportunity to shed light on the industry, and continue to push for reforms that truly protect consumers and artists.”