A jury in an antitrust trial on Wednesday found that Live Nation and its subsidiary, Ticketmaster, unlawfully held a monopoly in the ticketing market.
The trial took place over five weeks in a federal court in Manhattan. According the Justice Department and dozens of state attorneys general, Live Nation controlled ticketing, concert booking, venues and promotions. This, they claimed, was indicative of a monopoly.
This “anticompetitive conduct” caused fans to pay escalated fees, artists having limited touring options, and venues forced to use Ticketmaster.
The company has adamantly denied that it was acting as a monopoly, but has not issued a statement regarding the verdict.
The jury found that customers were overcharged by nearly $2.00 per ticket at major venues due to Ticketmaster’s anticompetitive behavior. Other monetary damages may come later, but U.S. District Judge Arun Subramanian will decide at a later date.
After the verdict, one of the attorneys for the states praised the ruling.
“It’s a great day for antitrust law. It’s a great day for consumers. This case is a tribute to the 34 states and the District of Columbia who carried this case forward and it was my great honor to be working with them together on this.”
Rob Bonta, California’s attorney general, agreed and noted that these types of cases have been taking a hit under the Trump administration.
“In the face of dwindling antitrust enforcement by the Trump Administration, this verdict shows just how far states can go to protect our residents from big corporations that are using their power to illegally raise prices and rip-off Americans,” he said.
The government made a deal with Live Nation in March after meeting with its CEO Michael Rapino. The settlement required Ticketmaster to divest 13 amphitheaters, reserve half of tickets for nonexclusive venues and cap service fees at 15%.
At the time, the company was under the impression that all issues with the DOJ had been resolved through the settlement.
Yet, attorneys general across the nation pursued their own claims against Live Nation.
The states found that Ticketmaster holds an 86% share of the ticketing market at major venues. To this, Live Nation has said that the number is incorrect and that they own around 44% of the market when broader venues are taken into account.
Live Nation’s attorney David Marriott said that the notion that customers and venues are doing worse by using Live Nation is untrue. He also said that the company brings concerts to the country and fans. He went on to note that being competitive is not illegal.
“It’s not against the law. We are fierce competitors,” Marriott said.
