On Wednesday, April 15th, the ticketing platform and concert production company Live Nation, and its Ticketmaster subsidiary, faced the final verdict of the major antitrust suit. A federal jury found that the company broke several federal and state antitrust laws while operating as an illegal monopoly. According to news writer Moses Jeanfrancois at Inc.com, the ruling comes after a long, highly anticipated trial that began in 2024. Per Jeanfrancois, the entertainment company that runs Ticketmaster has used retaliation and exclusive contracts, negatively affecting the competitive environment.
Background
The lawsuit originally came about because of Taylor Swift’s Eras Tour. Per Inc.com, 34 states and the District of Columbia brought the case to court after the public was enraged due to ticket prices. The Manhattan federal jury that came to the decision had deliberated over four days. States attourney Jeffrey Kessler explained that Live Nation currently controls 86% of the concert market. However, this number will change after the court ruling.
The Trump Administration and the DOJ had made their own settlement with Live Nation for $280 million. However, Jeanfrancois explains that 34 states out of the original 40 rejected the terms proposed in the settlement. Had the settlement been validated, Live Nation would’ve had service fees capped at 15% in amphitheaters, while divesting control of 13 amphitheaters. Moreover, the agreement would’ve made venues reach deals with other companies other than Live Nation.
Up Next
As explained by Inc.com, Judge Arun Subramanian will coordinate the next steps. Possible outcomes include a breakup between Live Nation and Ticketmaster in addition to damages being paid. Nonetheless, the verdict will be appealed, as expressed by Live Nation lawyer David R. Marriot.
