A jury has found that concert giant Live Nation and its Ticketmaster subsidiary had a harmful monopoly over big concert venues, dealing the company a loss in a lawsuit over claims brought by dozens of U.S. states.
A Manhattan federal jury deliberated for four days before reaching its decision on Wednesday in the closely watched case, which gave fans the equivalent of a backstage pass to a business that dominates live entertainment in the U.S. and beyond.
“It’s a great day for antitrust law,” said a jubilant Jeffrey Kessler, a lawyer for the states, as he emerged from the courthouse.
Earlier, the judge told lawyers on both sides to meet with one another “and the United States” to provide a joint letter proposing a schedule for motions and how the remedies phase of the case would occur. He told them to deliver it by late next week.
The trial brought Live Nation CEO Michael Rapino to the witness stand, where he was questioned about issues including the company’s 2022 Taylor Swift ticketing debacle, which saw Ticketmaster overwhelmed by demand for the pop-star’s Eras Tour and beset by technical failures. Rapino blamed a cyberattack.
The proceedings also aired a Live Nation executive’s internal messages declaring some prices “outrageous,” calling customers “so stupid” and boasting that the company was “robbing them blind, baby.” The executive, Benjamin Baker, apologetically testified that the messages were “very immature and unacceptable.”
Live Nation Entertainment owns, operates, controls booking for or has an equity interest in hundreds of venues. Its subsidiary Ticketmaster is widely considered to be the world’s largest ticket-seller for live events.
In a statement released later Wednesday, Live Nation Entertainment asserted the finding “is not the last word on this matter.”
Pointing both to motions Live Nation still intends to make to refute the ruling, and possible future appeals if it stands, it said the eventual outcome will likely “not be materially different” than the terms Live Nation agreed to in a recent settlement with the Department of Justice.
Live Nation called a ‘monopolistic bully’
The verdict could cost Live Nation and Ticketmaster hundreds of millions of dollars, just for the $1.72 US per ticket that the jury found Ticketmaster had overcharged consumers in 22 states. The companies could also be assessed penalties. In addition, sanctions could result in court orders that they divest themselves of some entities, including venues such as amphitheaters that they own.
The civil case, initially led by the U.S. federal government, accused Live Nation of using its reach to smother competition — by blocking venues from using multiple ticket sellers, for example.
“It is time to hold them accountable,” Kessler said in a closing argument. He called Live Nation a…
Read More: Jury finds Live Nation, Ticketmaster had anti-competitive monopoly over big
