Live Nation Found Guilty of Illegal Monopoly in Concert Ticketing Market
A federal jury found Live Nation Entertainment guilty of running an illegal monopoly in the concert ticketing market. The verdict came after a weeks-long antitrust trial brought by several state attorneys general.
A federal jury delivered a major blow to Live Nation Entertainment, finding the concert giant guilty of illegally monopolizing the ticketing market. The verdict came after a landmark antitrust trial that lasted several weeks.
The case was brought by a coalition of state attorneys general who pursued the trial even after the Department of Justice settled with the company. During the trial, evidence showed Live Nation charged fans for fees they weren't supposed to charge, according to one juror.
Live Nation has a history of antitrust problems. In 2019, the Justice Department found that Live Nation had repeatedly threatened venues in violation of a consent decree the company signed with the government after its merger with Ticketmaster.
The company controls most major concert venues across the country and owns Ticketmaster, the dominant ticket-selling platform. This gives Live Nation enormous power over concert pricing and availability.
The verdict could have major consequences for the music industry and concert-goers who have long complained about high ticket fees and limited competition.
Live Nation controls most major concert venues and owns Ticketmaster, meaning they set ticket prices for most shows you want to see. This ruling could lead to lower ticket fees and more competition in concert ticketing.
Live Nation will likely appeal the verdict. The court will determine what penalties or changes the company must make.
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