A federal jury has found that ticket resale company Live Nation, and its subsidiary Ticketmaster, operated as an illegal monopoly that overcharged ticket buyers.
The lawsuit against Live Nation was first filed in 2024 by the U.S. Department of Justice, which accused the ticket resale company of unfairly controlling concert bookings, specifically by threatening that venues would lose access to Live Nation-controlled tours if they signed with another ticketing company. The Department of Justice also argued that Ticketmaster controlled 80% of primary ticket sales, while expanding its presence in the resale market. The District of Columbia and 39 states joined the government’s case.
For far too long, Live Nation and Ticketmaster have taken advantage of fans and artists by raising prices for tickets and stifling any competition that threatened their power – New York Attorney General Letitia James
Just one week after the trial began in March of this year, the Justice Department and several states reached a $280 million settlement with Live Nation. This settlement requires Live Nation to allow other ticket resale companies, such as SeatGeek and StubHub, to sell tickets to Live Nation events. Additionally, ticket service fees must be limited to 15%. Despite this agreement, 33 states and the District of Columbia chose to move forward with the trial.
The Decision
After four days of deliberations, the jury found that Ticketmaster overcharged customers by $1.72 per ticket and has an 86% share of the ticketing market at “major concert venues.” This includes approximately 250 amphitheaters and arenas across the country.
The investigation also revealed Live Nation used pressure tactics like a countdown clock that suggested tickets would soon be sold out.
The Impact
Throughout the trial, Live Nation has denied acting as a monopoly. However, since the verdict has been decided, their stock has dropped over 5%.
California Attorney General Rob Bonta called the verdict “a historic and resounding victory for artists, fans, and the venues that support them.”
The Attorney Generals on the case have since published a post-verdict statement claiming that they are seeking financial consequences against the company and a breakup of the monopoly.
Judge Arun Subramanian will be holding a second trial to decide whether these requests should be granted or if other penalties will be enforced. It is unknown whether ticket prices will drop in the future as a result of this.
What do you think of the verdict? Tag us, @VALLEYMag, and let us know!
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