Yes, ticketmaster makes a fuckload of money off the fees, and you bet your ass they're collecting those fees in double on the resell market. I'm not denying that a bit. You should watch the video I linked in my earlier comment, because it lays it out better than I can but I'll use the same example John uses:

Justin Bieber "sold out" Madison square garden in minutes.

Here's what really happened: say MSG has a capacity of 10,000 tickets to sell. They release 5,000 to general sale. That leaves 5,000 tickets. They sparse those out to the artist (which actually happened in this case) and even ticketmaster themselves to sell on the resale market. All while collecting the fees in double, and paying out commissions to the artist on those double fees. That isn't even touching the companies that use bots to buy tickets and sell on the resale market.

It's most definitely a racket. It's most definitely a monopoly and market manipulation. Ticketmaster rakes in fees and percentages on tickets, then pays themselves as they own the venue. Let's not get it twisted though: everyone involved from the promoter (ticketmaster), venue (ticketmaster), and the artist are all getting paid on a massive scale depending on how large the artist is.