A federal jury in Manhattan decided Wednesday that Live Nation Entertainment and its Ticketmaster subsidiary illegally maintained monopoly power in the primary ticketing market for major concert venues.
The verdict came after roughly five weeks of trial and four days of deliberation. Jurors heard testimony from dozens of witnesses in the antitrust case brought by the Justice Department and dozens of state attorneys general, including Texas AG Ken Paxton, in 2024.
The states alleged that Live Nation monopolized the industry by controlling ticketing, concert booking, venues, and promotions. They claimed the company’s anticompetitive conduct forced fans to pay higher fees, limited touring options for artists, and coerced venues into exclusive deals with Ticketmaster.
The jury found that Ticketmaster overcharged concertgoers in the plaintiff states by an average of $1.72 per ticket at major concert venues. U.S. District Judge Arun Subramanian will decide additional monetary damages and other remedies at a later date.
Live Nation, which has vehemently denied acting as a monopoly, saw its stock fall more than 5% following the verdict.
Jeffrey Kessler, an attorney for the states, spoke outside the courthouse after the decision.
“It’s a great day for antitrust law. It’s a great day for consumers,” he said, per NBC News. “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.”
“No corporation should be allowed to illegally monopolize an industry, but that is exactly what Live Nation has done with its anticompetitive scheme to control concert prices and take advantage of fans, venues, and music artists,” Paxton said in a news release following the verdict. “Today, we successfully secured a verdict against Live Nation holding it liable for its unlawful actions. We will continue to pursue every possible remedy under the law to hold the company accountable, secure civil penalties, and restore fairness in the live entertainment industry.”
Live Nation had not issued a statement on the verdict by late Wednesday.
The case followed a March settlement between Live Nation and the Justice Department that required Ticketmaster to divest up to 13 amphitheaters, reserve 50% of tickets for nonexclusive venues, and cap service fees at 15%. Most states rejected the agreement and continued to pursue their own claims, arguing that it did not go far enough.
During closing arguments, Kessler urged jurors to rely on common sense.
“You’re New Yorkers,” he said. “I trust that you know when someone is blowing smoke or being straight with you. It’s time to hold them accountable.”
Live Nation attorney David Marriott countered that the company’s size resulted from competition, not illegality.
“This notion that the fans and the venues are doing worse with Live Nation, but that’s simply not true,” Marriott said. “Success is not against the antitrust laws in the United States. We are fierce competitors.”
The states had defined the relevant market as roughly 250 large amphitheaters and arenas with capacities of 8,000 or more that host more than 10 concerts a year. They said Ticketmaster holds an 86% share of ticketing at those venues. Live Nation argued that the market should be broader and that its share should be closer to 44%.
The trial included testimony from Live Nation CEO Michael Rapino about the 2022 Taylor Swift ticket sale problems, which he attributed to a cyberattack. Jurors also heard internal company messages in which an executive described some ticket prices as “outrageous” and said the company was “robbing them blind,” the Associated Press reported.
Subramanian instructed lawyers for both sides to submit a joint proposal by late next week on a schedule for the remedies phase of the case.