Ticketmaster owner Live Nation maintains an illegal monopoly, jury says in bombshell verdict
Ticketmaster owner Live Nation has maintained an illegal monopoly over the live event and ticketing markets, according to a bombshell verdict announced in Manhattan federal court on Wednesday.The jurors determined that Live Nation, led by CEO Michael Rapino, illegally leveraged its ownership of major concert venues to benefit its own tour promotion business.Concertgoers paid an extra $1.72 per ticket as a direct result of Live Nation’s anti-competitive practices, the jury found, according to Bloomberg.US District Judge Arun Subramanian will decide on what penalties Live Nation will need to pay as a result of the verdict, as well as appropriate remedies – including a potential breakup of the business.The ruling appeared to cap years of fan and artist complaints about Live Nation, which controls 42 of the top 50 amphitheater venues in the US, and Ticketmaster, which sells tickets.
Artists long accused Live Nation of forcing them to work with it if they wanted to play at its venues.And fans raged at high concert prices they blamed on Ticketmaster’s market control.The spats go back decades, with Pearl Jam accusing Ticketmaster of punishing the grunge act for its criticism in 1994.The jury’s decision followed a six-week trial that proceeded to court even after President Trump’s Justice Department struck a controversial settlement with the entertainment giant.
A coalition of 33 states, including New York and California, opted to continue the case.Lawmakers have sought for years to rein in Live Nation, which presided over the infamous ticketing fiasco for Taylor Swift’s Eras Tour.Ticketmaster sparked a furor in 2022 when it cancelled a general public sale of Swift tickets after seeing “historically unprecedented” demand at its presale events — prompting a lawsuit from disappointed fans who alleged Ticketmaster “tacitly encourages” scalpers.The states are seeking up to $700 million in damages, as well as penalties for violations of state-level ant...