Live Nation Entertainment Reveals Data Violations In Ticketmaster Unit

Jakarta - Live Nation Entertainment (LYV.N) announced on Friday May 31 that it was investigating a data breach in the Ticketmaster unit found on May 20. This breach is one of a series of major corporate hacks that have occurred in the past year.

In filing to the US Securities and Exchange Commission (SEC), Live Nation stated that they found "unauthorized activity" in third-party cloud databases that mainly contained Ticketmaster data, and they were working with forensic investigators.

Last week, a cyber crime group known as ShinyHunters claimed to have stolen user data of more than 500 million Ticketmaster subscribers, according to various media reports. However, Live Nation did not mention ShinyHunters in its SEC filing.

The company also did not immediately respond to requests for comment from the media.

This breach occurred when the concert promoter was facing regulatory scrutiny over antitrust concerns. Live Nation was hit by the first antitrust lawsuit last week, which is likely to be followed by a wave of other consumer lawsuits after the US government and several states sued to break up the company. They argued that Live Nation and its Ticketmaster unit illegally raised concert ticket prices.

In the filing, Live Nation said that on May 27, "a criminal threat actor offered what was suspected to be company user data for sale through the dark web."

"We are working to reduce risks for our users and the company, and have notified and cooperated with law enforcement," the company said. "We also notify regulatory authorities and users regarding unauthorized access to personal information, as appropriate."

This breach has not yet and is unlikely to have material impact on Live Nation's business or finance, the company said. "We continue to evaluate our risks and recovery efforts are ongoing," Live Nation added.