A federal jury in Manhattan has ruled against concert giant Live Nation and its Ticketmaster subsidiary, stating that they held a harmful monopoly over major concert venues. The decision, reached after four days of deliberation, marked a significant legal defeat for the companies in a lawsuit brought by multiple U.S. states.
Jeffrey Kessler, the lawyer representing the states, expressed satisfaction with the outcome, hailing it as a victory for antitrust law. Following the verdict, the judge instructed both legal teams to collaborate on proposing a schedule for motions and how the next phase of the case would proceed.
During the trial, Live Nation CEO Michael Rapino testified about various issues, including the company’s handling of the 2022 Taylor Swift ticketing incident, which Rapino attributed to a cyberattack. Internal messages from a Live Nation executive were also revealed, showing derogatory remarks about customers and pricing strategies.
Live Nation Entertainment, which owns and operates numerous venues, including Ticketmaster, the world’s largest ticket-selling platform for live events, released a statement indicating that they intend to challenge the ruling through motions and potential appeals. The company emphasized that the ultimate outcome may not differ significantly from a recent settlement with the Department of Justice.
The jury’s decision could result in significant financial implications for Live Nation and Ticketmaster, with potential penalties and divestment orders for certain entities. The civil case, initially spearheaded by the federal government, accused Live Nation of stifling competition and inflating ticket prices.
Despite Live Nation’s defense that it is not a monopoly and that pricing decisions are made by artists and venues, the jury found Ticketmaster had overcharged consumers in multiple states. The companies could also face sanctions requiring them to open doors to competitors like SeatGeek or AXS.
The ruling, lauded by California Attorney General Rob Bonta as a historic victory, underscores the states’ efforts to combat corporate monopolies and protect consumers from price manipulation. New York Attorney General Letitia James, a key player in the lawsuit, emphasized the importance of addressing monopolistic behavior in the industry.
Judge Arun Subramanian will determine the next steps in terms of remedies and damages, which could potentially include a company breakup. While Live Nation is expected to contest such measures, the states involved in the litigation remain committed to seeking justice for consumers.
