A Manhattan federal jury found Ticketmaster owner Live Nation guilty of having a harmful monopoly over big concert venues.
The jury deliberated for four days before reaching a decision that dealt a loss to the company over claims brought by dozens of U.S. states.
Live Nation Entertainment owns, operates, controls booking for or has an equity interest in hundreds of venues, with its booking platform Ticketmaster widely considered to be the world’s largest ticket-seller for live events.
The civil case was initially led by the U.S. federal government and accused Live Nation of using its reach to smother competition through blocking venues from using multiple ticket sellers or retaliating against them when they did.
An attorney for the states against Live Nation, Jeffery Kessler, called Live Nation a “monopolistic bully” that drove up prices for ticket buyers.
The jury found that Ticketmaster had overcharged buyers by US$1.72 a ticket.
The judge still needs to decide the total damages.
Live Nation said that it didn’t hold a monopoly, insisting that artists, sports teams and venues decide prices and ticketing practices.
Live Nation said it would appeal any unfavourable rulings in a statement released after the jury’s decision and claimed the jury’s award of $1.27 per ticket only applied to around 20% of total tickets.
“The jury’s verdict is not the last word on this matter,” the company said.
“We remain confident that the ultimate outcome of the States’ case will not be materially different than what is envisioned by the DOJ settlement.”
Ticketmaster was established and merged with Live Nation in 2010.
Kesser said the company now controls 86% of the market for concerts and 73% of the overall market when sports are added into the mix.
Live Nation noted in its 2023 securities filings that it is the largest live entertainment company, producer of live music concerts and live entertainment ticketing sales and marketing company in the world.
Its business brings in over $22 billion in yearly revenue.
Ticketmaster has a long history of complaints from fans.
In the 1990s, grunge rock band Pearl Jam battled the business and even filed an anti-monopoly complaint with the U.S. Department of Justice, which declined to bring a case then.
Decades later, the Justice Department, joined by dozens of states, brought the current lawsuit during former Democratic U.S. President Joe Biden's administration.
Days into the trial, Republican President Donald Trump's administration announced it was settling its claims against Live Nation.
The deal included a cap on service fees at some amphitheatres as well as some new ticket-selling options for promoters and venues.
This allowed, but didn’t require, them to open doors to Ticketmaster competitors like SeatGeek or AXS.
The settlement didn’t require Live Nation to split from Ticketmaster.
At the time of writing, Live Nation (NYSE: LYV) shares were down 6.29% to US$155.82.
