Live Nation (LYV -5%) after jury finds illegal ticketing monopoly, $1.72 per ticket overcharge
Source: [https://www.nbcnews.com/business/consumer/livenation-illegally-monopolized-ticketing-market-jury-antitrust-trial-rcna273714](https://www.nbcnews.com/business/consumer/livenation-illegally-monopolized-ticketing-market-jury-antitrust-trial-rcna273714)
A jury in a high-stakes antitrust trial on Wednesday found that Live Nation and its subsidiary, Ticketmaster, illegally maintained monopoly power in the ticketing market.
A group of jurors delivered the verdict in Manhattan federal court after around five weeks of trial, which featured testimony from dozens of witnesses. The jury began deliberating on Friday.
The complaint, initially brought by the Justice Department and the dozens of state attorneys general in 2024, claimed that Live Nation monopolized the industry by controlling ticketing, concert booking, venues and promotions.
The lawsuit alleged that the company engaged in “anticompetitive conduct,” resulting in fans paying higher fees, artists having fewer options for touring, and venues coerced to use Ticketmaster.
The jury found that Ticketmaster overcharged concertgoers in the plaintiff state by $1.72 per ticket at “major concert venues” as a result of its anticompetitive behavior. Other monetary damages are possible, which U.S. District Judge Arun Subramanian will ultimately decide at a later date.
Live Nation, which has vehemently denied acting as a monopoly, saw its stock drop over 5% on the news as investors weighed what the verdict could mean for the company's future.
Following the decision, Jeffrey Kessler, an attorney for the states, told NBC News outside of the courtroom, “It’s a great day for antitrust law. It’s a great day for consumers. This case is a tribute to the 34 states and the District of Columbia who carried this case forward and it was my great honor to be working with them together on this."
In a statement on Wednesday, California Attorney General Rob Bonta also praised the verdict, calling it "a historic and resounding victory for artists, fans, and the venues that support them."
“In the face of dwindling antitrust enforcement by the Trump Administration, this verdict shows just how far states can go to protect our residents from big corporations that are using their power to illegally raise prices and rip-off Americans,” Bonta said.
Live Nation has not yet issued a statement on the verdict.
Antitrust lawyers previously told NBC News that settlements can range from a modest set of conduct changes to sweeping consent decrees.
The federal government struck a surprise deal with the company in March after a face-to-face meeting between Live Nation CEO Michael Rapino and Omeed Assefi, the acting assistant attorney general for the Antitrust Division.
The settlement came just weeks after the ousting of Gail Slater, who had served as the Justice Department’s top antitrust chief before abruptly exiting her position on Feb. 12. Slater had been particularly aggressive against Big Tech companies during her tenure.
The DOJ settlement required Ticketmaster to divest up to 13 amphitheaters, reserve 50% of tickets for nonexclusive venues and cap ticketing service fees at 15%.
