A jury has found that Live Nation Entertainment and its subsidiary, Ticketmaster, illegally monopolized the US ticketing market in a landmark verdict that could reshape the live entertainment industry.
The jury in Manhattan federal court reached its verdict on Wednesday (April 15).
The verdict is a significant blow to the world’s largest concert promoter and a major victory for the coalition of 33 states and the District of Columbia that continued the trial after the US Department of Justice reached a settlement with the company in March.
The jury found in favor of the states on every claim, according to the verdict form filed with the court, which you can read in full here. The jury found that Ticketmaster willfully acquired or maintained monopoly power in both the primary ticketing market and the primary concert ticketing market for major concert venues through exclusionary conduct, and that Live Nation monopolized the market for large amphitheaters.
The jury also found that Live Nation overcharged consumers on tickets sold from May 2020 through 2024, according to a statement from California Attorney General Rob Bonta.
According to the verdict form, the jury found that consumers were overcharged by $1.72 per ticket for primary concert tickets at major concert venues across 22 states and the District of Columbia as a result of Ticketmaster’s anticompetitive conduct.
It will now fall to US District Judge Arun Subramanian, who is presiding over the case in the Southern District of New York, to determine the remedy. The states have pushed for a break-up of Live Nation and its ticketing subsidiary Ticketmaster, though the judge could instead opt to impose limits on the company’s business practices.
Reuters noted that Live Nation’s shares were down 6.3% in afternoon trading following the news.
In a statement following the verdict, Live Nation said “the jury’s verdict is not the last word on this matter,” adding that it will renew its motion for judgment as a matter of law and appeal any unfavorable rulings.
The company said the $1.72 per-ticket damages finding applies to a “limited number of tickets” sold at 257 venues representing around 20% of total tickets, and estimated aggregate single damages below $150 million, which would be trebled under antitrust law.
Live Nation said it “remains confident that the ultimate outcome of the States’ case will not be materially different than what is envisioned by the DOJ settlement.”
The DOJ sued Live Nation and Ticketmaster in May 2024, joined by attorneys general from dozens of states and the District of Columbia. They accused the company of “monopolization and other unlawful conduct that thwarts competition in markets across the live entertainment industry.”
The trial began on March 2 in Manhattan, but was thrown into chaos a week later when the DOJ announced a settlement with Live Nation that allowed the company to retain ownership of Ticketmaster.
An initial coalition of 27 states and the District of Columbia rejected the deal, with New York Attorney General Letitia James saying the settlement ‘fails to address the monopoly at the center of this case.’ The states filed a motion for a mistrial, accusing the DOJ and Live Nation of ‘gamesmanship’.
Judge Subramanian declined to grant the mistrial but ordered the states to engage in settlement talks with Live Nation. Those talks were ultimately unsuccessful, and the trial continued with a broader coalition of 33 states and the District of Columbia pressing their claims.
During closing arguments, the states’ attorney Jeffrey Kessler told jurors that Live Nation is a “monopolistic bully” that controls 86% of the ticketing market for major concert venues. Live Nation attorney David Marriott countered that the company’s success reflects the quality of its products and services, not illegal conduct. “We are big. That is not against the laws in the United States,” Marriott told the court.
“This is a historic and resounding victory for artists, fans, and the venues that support them.”
California Attorney General Rob Bonta
“The verdict is in! A jury today found Live Nation/Ticketmaster liable for anticompetitive conduct that harmed the music industry and included overcharging consumers. This is a historic and resounding victory for artists, fans, and the venues that support them,” said Attorney General Bonta.
“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. We are incredibly proud of today’s outcome — and especially proud of our coalition made up of red and blue states alike who understood we needed to come together to protect our consumers, businesses, and state economies from Live Nation’s illegal conduct.”
“Today’s landmark jury verdict in our case against Live Nation confirms what we have said since the start of our case: For far too long, Live Nation has illegally profited from its monopoly at the expense of hardworking New Jerseyans.”
New Jersey Attorney General Jennifer Davenport
New Jersey Attorney General Jennifer Davenport added: “Today’s landmark jury verdict in our case against Live Nation confirms what we have said since the start of our case: For far too long, Live Nation has illegally profited from its monopoly at the expense of hardworking New Jerseyans. Live Nation’s illegal, anti-competitive practices have caused immense damage in our state, exploiting consumers by driving up the price of tickets and making it harder for fans to see their favorite artists.
“Our office, working in close partnership with a bipartisan group of state attorneys general, will continue to do everything in our power to ensure that Live Nation cannot continue to harm consumers, artists, and venues. We are committed to protecting our residents from illegal monopolies and restoring competition in the live music marketplace.”
“Today a jury in New York found Live Nation and Ticketmaster operated as an illegal monopoly.”
New Hampshire Attorney General John M. Formella
New Hampshire Attorney General John M. Formella, said: “Today a jury in New York found Live Nation and Ticketmaster operated as an illegal monopoly. This verdict ensures that Live Nation and Ticketmaster will be held accountable for violations of federal and state antitrust laws, including New Hampshire’s antitrust law. New Hampshire is proud to stand with our fellow State Attorneys General across the country in celebrating this victory for consumers. We are grateful for the jurors’ attention to this important case which impacts numerous aspects of the live entertainment industry.”
National Independent Venue Association (NIVA) Executive Director Stephen Parker issued the following statement after a jury found Live Nation and Ticketmaster operated as an illegal monopoly:
“In the 44 days Live Nation’s lawyers spent arguing about whether they broke the law, Live Nation made $3.1 billion. Today, the jury confirmed what artists, fans, and independent venues have believed for 15 years: Live Nation is an illegal monopoly. The consequences should be swift and disruptive to their vertically-integrated market power.
“Live Nation and Ticketmaster must be broken up now. Ticketmaster should not be permitted to participate in the ticket resale market. Live Nation should not be able to promote more than 50% of artists’ tours. And the damages paid to the states should be remitted to the independent venues, promoters, festivals, and fans that have suffered under Live Nation’s monopolistic reign over the last 15 years.
“The nation’s fans and independent stages have hope once again because the jury saw Live Nation for what it is. Now the case is in the hands of the judge and the Plaintiff States to determine the remedies that will protect and compensate fans, venues, and promoters for the effects of their monopolistic conduct, and prevent it in the future.”
The verdict came a day after six US senators filed a letter with Judge Subramanian urging him to use his authority under the Tunney Act to scrutinize and potentially reject the DOJ’s March settlement with Live Nation.
Senators Amy Klobuchar, Elizabeth Warren, Cory Booker, Richard Blumenthal, Mazie Hirono and Peter Welch argued in the letter, which you can read here, that “mere behavioral safeguards like those in the proposed settlement are insufficient to remedy Live Nation-Ticketmaster’s monopoly power.”
The senators also raised concerns about the circumstances surrounding the settlement, citing sworn testimony from fired DOJ deputy Roger Alford that Live Nation lobbyist Mike Davis had threatened then-antitrust chief Gail Slater over a separate case, and later “admitted in sworn testimony that he recommended Ms. Slater’s firing to ‘anyone who would listen.’”
Slater was ousted from her position on February 12, less than a month before the DOJ settled with Live Nation.
The letter urged the court to conduct an independent examination into whether the settlement was “genuinely made in the public interest,” including requiring the parties to submit a complete description of all communications concerning the deal.
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