Live Nation illegally monopolized the market for tickets, jury finds

Key Points:

• A Manhattan federal jury found Live Nation and its subsidiary Ticketmaster guilty of illegally monopolizing the ticket market, using their dominant position to stifle competition in concerts, tickets, and event venues.
• The jury determined that Ticketmaster overcharged consumers by $1.72 per ticket and could face repayment plus additional damages, with a judge to decide the final penalties.
• Over 30 states pursued claims against Live Nation for anticompetitive practices, leading to a coalition praised by California Attorney General Rob Bonta as a major victory for artists, fans, and venues.
• The U.S. Department of Justice settled its antitrust lawsuit with Live Nation, requiring Ticketmaster to allow competitors to list tickets on its site and mandating the divestment of up to 13 amphitheaters to reduce monopoly power.
• Live Nation agreed to create a $280 million settlement fund for the states involved but maintained that the allegations were without merit, expressing satisfaction with the DOJ settlement.