Live Nation Declared a Monopoly by Jury, But Concert Ticket Prices Won't Drop Yet

A federal jury ruled that Live Nation and its subsidiary Ticketmaster have been running an illegal monopoly in the concert and ticketing industry. The verdict validates long-standing complaints that the company has been crushing competition and driving up costs for music fans.

Washington D.C. and 33 states brought the case against Live Nation, arguing the company has too much control over both concert venues and ticket sales. During the trial, prosecutor Jeffrey L. Kessler told the jury that Live Nation was "a monopolist who views itself to be above the law" and that "it is time to hold them accountable."

The ruling doesn't mean immediate changes for ticket buyers. D.C. and the 33 states now have to argue for specific punishments and fines in court. Live Nation could also appeal the decision, which would pause any penalties.

Experts say it's unclear how much ticket prices might drop in the long run, even if the company faces major changes. The case represents one of the biggest antitrust victories against a major corporation in recent years.