Live Nation-Ticketmaster is an illegal monopolist, according to a Manhattan jury bloomberg. The jury found the company liable on three counts: illegally monopolizing the market for live event ticketing, amphitheaters, and combining its concert promotion business with the use of its venues. bloomberg Informed.
The decision, which came after several days of deliberations, leaves the live entertainment giant open to a possible breakup — which was the stated goal of the lawsuit when it was filed by the Biden administration’s Justice Department. Such an outcome would go further than the agreement the Trump administration’s DOJ reached with Live Nation over the one-week trial. Still, Judge Arun Subramaniam may opt for lesser measures than a breakup, and any outcome will likely be subject to appeal. Based on the jury’s finding that Ticketmaster overcharged consumers by $1.72 per ticket, Subramanian will also award total damages to the company. the new York Times.
The trial lasted approximately six weeks, including a one-week break where the states returned to the negotiating table after the DOJ settled their claims with the company. Ultimately, 34 of the 40 attorneys general who participated in the suit decided to continue the litigation, seeking a broader outcome than the feds had achieved, including agreements that Live Nation would cease exclusive booking arrangements at 13 amphitheatres, and capping certain Ticketmaster fees.
Jurors heard from Live Nation executives including its CEO Michael Rapinoe, artists and their employees like Ben Lovett of Mumford & Sons and Drake’s manager Adel Noor, concert venue executives like competitors like SeatGeek and the former CEO of Brooklyn’s Barclays Center. Stateside projected the image of a company that made veiled threats to pull concerts unless venues used its ticketing services, and with such broad access to outdoor amphitheaters that it would be impossible for artists to tour them in the US without going through Live Nation. The company countered that it provides a superior service, which is recognized by some customers who testified, and competes fiercely for business.
Representatives for Live Nation did not immediately respond to a request for comment on the ruling, but acting DOJ antitrust chief Omed Assefy called the decision “a great outcome for the American people.” The DOJ and some states settled their cases and received immediate relief. The remaining states found liability and will now move on to the next phase of treatment testing. In this scenario everyone wins except Live Nation. New York Attorney General Letitia James, who led the coalition of states prosecuting the case, called the verdict a “historic victory”.
“A jury found what we have long known to be true: Live Nation and Ticketmaster are breaking the law and costing consumers millions of dollars in the process,” James said in a statement. “I am proud to lead a bipartisan coalition of Attorneys General in bringing this case and I look forward to continuing our work to hold Live Nation and Ticketmaster accountable.”
UPDATE 15 APRIL: Added comments from DOJ and New York Attorney General.
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