Ticketmaster owner Live Nation maintains an illegal monopoly, jury says in bombshell verdict | Latest Tech News
Ticketmaster owner Live Nation has maintained an illegal monopoly over the live event and ticketing markets, according to a bombshell verdict announced in Manhattan federal court on Wednesday.
The jurors decided that Live Nation, led by CEO Michael Rapino, illegally leveraged its possession of major live performance venues to benefit its own tour promotion business. Concertgoers paid an additional $1.72 per ticket as a direct end result of Live Nation’s anti-competitive practices, the jury discovered, according to Bloomberg.
US District Judge Arun Subramanian will resolve on what penalties Live Nation will need to pay as a end result of the verdict, as effectively as acceptable remedies – including a potential breakup of the business.
Live Nation faces a potential breakup. REUTERS
The ruling appeared to cap years of fan and artist complaints about Live Nation, which controls 42 of the top 50 amphitheater venues in the US, and Ticketmaster, which sells tickets. Artists long accused Live Nation of forcing them to work with it if they needed to play at its venues. And followers raged at high live performance costs they blamed on Ticketmaster’s market control.
The spats go back a long time, with Pearl Jam accusing Ticketmaster of punishing the grunge act for its criticism in 1994.
The jury’s resolution adopted a six-week trial that proceeded to court even after President Trump’s Justice Department struck a controversial settlement with the leisure giant. A coalition of 33 states, including New York and California, opted to continue the case.
Lawmakers have sought for years to rein in Live Nation, which presided over the notorious ticketing fiasco for Taylor Swift’s Eras Tour. Ticketmaster sparked a furor in 2022 when it cancelled a basic public sale of Swift tickets after seeing “historically unprecedented” demand at its presale occasions — prompting a lawsuit from upset followers who alleged Ticketmaster “tacitly encourages” scalpers.
The states are searching for up to $700 million in damages, as effectively as penalties for violations of state-level antitrust legal guidelines, according to Bloomberg.
“This is a historic and resounding victory for artists, fans, and the venues that support them,” California Attorney General Rob Bonta said in a assertion.
Live Nation’s stock closed down more than 6%. Meanwhile, shares of industry rival StubHub jumped 3.5% and Vivid Seats was up 9%.
Live Nation didn’t immediately return a request for remark. The company has repeatedly denied wrongdoing, and is anticipated to appeal the ruling.
Michael Rapino, CEO of Live Nation Entertainment, arrives to the courthouse in New York City, March 10, 2026. REUTERS
Court information that surfaced during the trial included Slack messages in which Live Nation worker Ben Baker admitted to turning a blind eye when brokers had been shopping for up big blocks of tickets, saying, “normally I’d look other way.”
In other Slack messages from 2021 to 2023 that went viral, Baker and fellow Live Nation government Jeff Weinhold gloated about charging large charges on ticket purchases at Live Nation venues, saying “these people are so stupid” that “I almost feel bad taking advantage of them,” according to court papers.
Under the DOJ’s settlement, Live Nation agreed to cap its service charges at its amphitheaters at 15%, open up reserving at 13 amphitheaters to opponents and place a four-year restrict on exclusivity offers between Ticketmaster and particular venues.
Live Nation also agreed to create a $280 million fund to settle state claims.
As The Post reported, critics alleged that the settlement amounted to a slap on the wrist that wouldn’t help decrease ticket costs.
“A slap on the wrist is even too strong of a characterization of this agreement,” the live leisure industry source last month. “It’s more like light tickle on the wrist.”
The jury’s verdict got here after a six-week trial. Adam McCullough – stock.adobe.com
“Without the breakup of Live Nation and Ticketmaster, there isn’t going to be a meaningful difference in ticket prices,” the source added.
Judge Subramanian expressed outrage over the settlement between the feds and Live Nation, which was announced after the trial had already begun and was so abrupt that even lead DOJ attorney David Dahlquist said he didn’t study the small print until around the same time the court was informed.
A senior Justice Department official defended the company’s resolution to settle last month, arguing that court-ordered divestitures are uncommon and troublesome to acquire.
Striking a deal to open up Live Nation’s technology and place limits on amphitheater exclusivity offers secured aid for the company’s opponents without the need for a pricey trial and years-long appeal course of, the official added.
The settlement was announced shortly after the abrupt ouster of former DOJ antitrust chief Gail Slater, who clashed with company management over how to deal with high-profile circumstances.
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