Live Nation and Ticketmaster Found Guilty of Anticompetitive Monopoly

Summary

• A federal jury in New York determined that Live Nation and Ticketmaster hold a harmful monopoly over large concert venues
• The verdict follows a highly publicized antitrust trial initiated by dozens of US states and the District of Columbia
• The ruling could cost the entertainment conglomerate hundreds of millions in damages and potentially force it to divest venue properties

Live Nation and its subsidiary Ticketmaster have officially lost a major antitrust lawsuit after a Manhattan federal jury ruled the companies maintained an anticompetitive monopoly over the live entertainment market.

AP reports that following four days of deliberation, the jury concluded a trial that provided a rare, behind-the-scenes look into the ticketing titan’s operations. Brought forward by 34 states and the District of Columbia, the civil case accused Live Nation of leveraging its immense scale to stifle competition by preventing venues from working with alternative ticketing platforms. According to the state attorneys, the conglomerate currently controls 86% of the concert ticketing market.

During the proceedings, Live Nation CEO Michael Rapino took the stand to defend the company’s practices, attributing the notorious 2022 Taylor Swift ticketing collapse to a cyberattack. However, internal communications presented during the trial revealed employees acknowledging inflated pricing strategies and mocking consumers.

The jury estimated that the company’s anticompetitive tactics led to customers across 22 states being overcharged by $1.72 USD per ticket. This landmark decision could force Live Nation to pay back hundreds of millions of dollars in damages. While Live Nation continues to deny operating as a monopoly and plans to appeal the verdict, pending sanctions from the judge could include massive financial penalties or forced structural changes, such as divesting from owned amphitheaters and venues.