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 determined that Live Nation, led by CEO Michael Rapino, had illegally leveraged its ownership of major concert venues to benefit its own tour promotion business. Concertgoers paid an extra $1.72 per ticket as a direct result of Live Nation’s anti-competitive practices, the jury found, according to Bloomberg.
US District Judge Arun Subramanian will decide on what penalties Live Nation will need to pay as a result of the verdict, as well as appropriate remedies – including a potential breakup of the business.
The jury’s decision followed a six-week trial that proceeded to court even after President Trump’s Justice Department struck a controversial settlement with the entertainment giant. A coalition of 33 states, including New York and California, opted to continue the case.
Lawmakers have sought for years to reign in Live Nation, which presided over the infamous ticketing fiasco for Taylor Swift’s Eras Tour.
The states are seeking up to $700 million in damages, as well as penalties for violations of state-level antitrust laws, 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 statement.
Live Nation’s stock was down more than 3% in late afternoon trading. Meanwhile, shares of industry rival StubHub jumped 5% and Vivid Seats was up 9%.
Live Nation did not immediately return a request for comment. The company has repeatedly denied wrongdoing.
The company is expected to appeal the ruling.
Court records that surfaced during the trial included Slack messages in which Live Nation employee Ben Baker admitted to turning a blind eye when brokers were buying 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 executive Jeff Weinhold gloated about charging massive fees 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 fees at its amphitheaters at 15%, open up booking at 13 amphitheaters to competitors and place a four-year limit on exclusivity deals between Ticketmaster and specific 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 lower ticket prices.
“A slap on the wrist is even too strong of a characterization of this agreement,” the live entertainment industry source last month. “It’s more like light tickle on the wrist.”
“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 learn the details until around the same time the court was informed.
A senior Justice Department official defended the agency’s decision to settle last month, arguing that court-ordered divestitures are rare and difficult to obtain.
Striking a deal to open up Live Nation’s technology and place limits on amphitheater exclusivity deals secured relief for the company’s competitors without the need for a costly trial and years-long appeal process, the official added.
The settlement was announced shortly after the abrupt ouster of former DOJ antitrust chief Gail Slater, who clashed with agency leadership over how to handle high-profile cases.
