Ticketmaster and Live Nation lose antitrust trial in New York

Key Points:

• A Manhattan federal jury found that Live Nation and its Ticketmaster subsidiary hold a harmful monopoly over major concert venues, ruling against the companies in a lawsuit brought by over 30 U.S. states and the District of Columbia.
• The jury determined Ticketmaster overcharged consumers by $1.72 per ticket in 22 states, potentially costing the companies hundreds of millions of dollars in damages and penalties, with possible court orders to divest some venues.
• The case revealed internal Live Nation communications criticizing customers and pricing strategies, and included testimony from CEO Michael Rapino about issues such as the 2022 Taylor Swift ticketing problems.
• The lawsuit accused Live Nation of stifling competition by restricting venues from using multiple ticket sellers, while Live Nation argued its market dominance was due to success and not monopoly practices.
• The verdict was hailed by state attorneys general as a major antitrust victory, with the next phase expected to focus on remedies and penalties for the companies’ anti-competitive conduct.