A Manhattan jury has found Live Nation-Ticketmaster to be an illegal monopolist, as reported by Bloomberg. The jury deemed the company guilty of illegally monopolizing the live event ticketing and amphitheater markets and tying its concert promotions with venue use. This verdict, following days of jury deliberations, opens the possibility of a Live Nation breakup, aligning with the original aims of the Biden administration’s Department of Justice lawsuit. This outcome could surpass the settlement reached by the Trump administration’s DOJ, though Judge Arun Subramanian might choose less drastic remedies with likely appeals to follow. The judge will also decide on the damages, as Ticketmaster allegedly overcharged consumers by $1.72 per ticket, according to The New York Times.
The trial lasted around six weeks, including a break for negotiations after the DOJ settled with the company. However, 34 out of 40 attorneys general continued pursuing a broader result, aiming to surpass federal achievements, which included agreements for Live Nation to offload exclusive booking deals at 13 amphitheaters and cap certain Ticketmaster fees.
Testimonies came from Live Nation executives like CEO Michael Rapino, artists including Ben Lovett of Mumford & Sons and Drake’s manager Adel Nur, competitors such as SeatGeek, and concert venue executives including the former CEO of Brooklyn’s Barclays Center. The states depicted a company using potential concert withdrawal threats to enforce venue ticketing service use. Live Nation claimed to offer superior service, evidenced by customer testimonies and competitive efforts.
Live Nation and the Justice Department did not immediately comment on the verdict, but various antitrust enforcers shared reactions online. Former DOJ Antitrust Division heads, Gail Slater and Jonathan Kanter, praised state attorneys general for their victory. Slater noted the historic significance, while Kanter hailed the case as potentially the most popular antitrust case, affirming the strength of the rule of law.