Live Nation and its subsidiary, Ticketmaster were found by a jury to have illegally operated a monopoly in the ticketing industry for live events in a closely watched antitrust trial. The verdict was delivered in Manhattan federal court after an approximately five-week trial that included testimony from dozens of witnesses.
Witnesses featured top executives in the music and entertainment industries.
Omeed A. Assefi, acting assistant attorney general for the Department of Justice’s Antitrust Division, stated: “This is a fantastic outcome for the American people.” Assefi added: “The Department of Justice and some states settled their case and obtained immediate relief. The remaining states received a liability finding and will now proceed to the next phase of remedies trials. Everyone but Live Nation wins with this scenario.”
However, fans are unlikely to see significant reductions in ticket prices or fees for the foreseeable future. Judge Arun Subramanian will hold a second trial to determine what remedies are warranted, including whether to order the breakup of the company or implement other structural changes such as selling off businesses.
Scott Grzenczyk, a lawyer with Girard Sharp, stated: “This verdict will be an earthquake in the industry in terms of people’s perception in feeling validated.” He added: “There is a big difference between people complaining about Goliath and getting a jury verdict that Goliath was a monopolist and doing something wrong.”
The Justice Department and 39 state attorneys general, including those from California, New York, and Washington, D.C., sued Live Nation in 2024, alleging its combination with Ticketmaster and control of “virtually every aspect of the live music ecosystem” have harmed fans, artists, and venues.
New York Attorney General Letitia James stated: “A jury found what we have long known to be true: Live Nation and Ticketmaster are breaking the law and costing consumers millions of dollars in the process.”
California Attorney General Rob Bonta called the verdict “a historic and resounding victory for artists, fans, and the venues that support them.” He added: “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.”
Texas Attorney General Ken Paxton stated: “I just secured victory against Live Nation in court to end its illegal monopolization and make live events more affordable.”
Live Nation, which has consistently denied operating as a monopoly, saw its stock drop over 5% following the news.
In a statement issued on Wednesday, Live Nation said: “The jury’s verdict is not the last word on this matter. Pending motions will determine whether the liability and damages rulings stand.” The company also stated it plans to renew its motion for judgment as a matter of law—a motion the court had deferred until after the jury returned its verdict. Additionally, Live Nation noted there was a pending motion to strike the damages testimony on which the jury’s award was based.
In response to the jury’s award of $1.72 per ticket, Live Nation indicated that it “applies to a limited number of tickets—those sold at 257 venues, which represent about 20% of total tickets—and only to purchases by fans (excluding brokers) in certain states over the past five years.” The company further stated: “Based on that scope, we believe the aggregate single damages figure would be below $150 million, which would be trebled. In connection with the DOJ settlement, Live Nation has already accrued $280 million toward state damages and civil penalty claims.”