Bruce Springsteen built his reputation on being a man of the people. That's part of why some of his fans were especially aghast at the ticket prices for his upcoming tour. Some cost upwards of thousands of dollars each.

Many popular artists take advantage of a pricing system used by live events company Ticketmaster that sets prices based on demand. The more people waiting in line for tickets, the higher the prices go. But many fans aren't happy with the ballooning costs.

Live Nation, Ticketmaster's parent company, owns concert venues, promotes tours, and sells tickets. Some say that leaves little room for competition, hurting fans, artists, and the industry at large.

We discuss Live Nation as a monopoly, who it hurts, and what's being done to address the lack of competition.

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