Jury finds Live Nation and Ticketmaster operated as a monopoly, overcharged fans
6 hours ago
- #Ticketing Industry
- #Monopoly
- #Antitrust
- Live Nation and Ticketmaster were found by a jury to have operated as a monopoly, harming fans, artists, and venues.
- A second trial will determine remedies, such as breaking up the company or requiring structural changes, but ticket price drops are not immediate.
- The Justice Department and state attorneys general sued Live Nation, leading to a secret settlement with some states, while others continued to trial.
- The settlement includes caps on service fees, allowing competitors to offer tickets, and a $280 million fund for state damages claims.
- Jurors found Ticketmaster overcharged states by $1.72 per ticket, but total damages and penalties will be decided by the judge.