Summary
A federal jury in Manhattan found that Live Nation and its ticket-selling platform Ticketmaster have a monopoly over large concert venues in the US, harming competition and raising ticket prices. The case involved dozens of states accusing the company of blocking other ticket sellers and overcharging customers by $1.72 per ticket.
Key Facts
- Live Nation owns or controls many concert venues and Ticketmaster sells most tickets for live events like concerts and sports.
- The jury decided Live Nation and Ticketmaster acted like a monopoly preventing other ticket sellers from competing.
- Ticketmaster was found to have charged customers an extra $1.72 per ticket unfairly; the judge will decide on total damages later.
- Live Nation said it is not a monopoly and that prices are set by artists and venues, not the company.
- The US Department of Justice and many states brought the lawsuit; some states settled with Live Nation for $280 million, but over 30 states continued the trial.
- During the trial, Live Nation’s CEO admitted the company had issues with ticket sales, and internal messages revealed executives called customers "stupid" and joked about overcharging them.
- Live Nation merged with Ticketmaster in 2010 and controls about 86% of the concert ticket market, making over $22 billion annually.
- The settlement includes some limits on fees and gives some venues more choices for ticket sellers but does not require Live Nation and Ticketmaster to separate.
