A federal jury has found that Live Nation Entertainment and its subsidiary Ticketmaster illegally monopolized the US ticketing market — a landmark verdict with far-reaching implications for the live entertainment industry.

The jury in Manhattan federal court returned its decision on Wednesday (April 15), ruling in favor of a coalition of 33 states and the District of Columbia that had pressed on with the trial after the US Department of Justice reached a separate settlement with Live Nation in March.

According to the verdict form filed with the court, the jury found in favor of the states on every claim. It determined that Ticketmaster willfully acquired or maintained monopoly power in both the primary ticketing market and the primary concert ticketing market for major concert venues through exclusionary conduct, and that Live Nation monopolized the market for large amphitheaters.

The jury further found that Live Nation overcharged consumers on tickets sold between May 2020 and 2024. Specifically, it determined that consumers paid $1.72 more per ticket for primary concert tickets at major concert venues across 22 states and the District of Columbia as a direct result of Ticketmaster's anticompetitive practices — a figure cited in a statement from California Attorney General Rob Bonta.

The case now moves to the remedies phase. US District Judge Arun Subramanian, presiding in the Southern District of New York, will determine what relief is appropriate. The states have sought a full structural break-up of Live Nation and Ticketmaster, though the judge could alternatively impose behavioral restrictions on the company's business practices.

Reuters reported that Live Nation shares fell 6.3% in afternoon trading following the verdict.

In a statement, Live Nation called the jury's verdict "not the last word on this matter," saying it would renew its motion for judgment as a matter of law and appeal any unfavorable rulings. The company argued that the $1.72-per-ticket damages finding applies to a "limited number of tickets" sold across 257 venues — roughly 20% of its total ticket volume — and estimated aggregate single damages at below $150 million, which would be trebled under antitrust law. Live Nation added that it "remains confident that the ultimate outcome of the States' case will not be materially different than what is envisioned by the DOJ settlement."

The DOJ originally filed suit against Live Nation and Ticketmaster in May 2024, alongside attorneys general from dozens of states and DC, accusing the company of "monopolization and other unlawful conduct that thwarts competition in markets across the live entertainment industry."

The trial got underway on March 2 in Manhattan, only to be upended a week later when the DOJ announced a settlement with Live Nation that would have allowed the company to retain Ticketmaster.

An initial group of 27 states and DC rejected the agreement. New York Attorney General Letitia James declared that the settlement "fails to address the monopoly at the center of this case," and the states moved for a mistrial, accusing the DOJ and Live Nation of "gamesmanship." Judge Subramanian denied the mistrial motion but ordered the parties into settlement talks. When those talks collapsed, the trial resumed with an expanded coalition of 33 states and DC.

During closing arguments, the states' attorney Jeffrey Kessler characterized Live Nation as a "monopolistic bully" controlling 86% of the ticketing market for major concert venues. Live Nation attorney David Marriott pushed back, arguing that the company's scale reflects the strength of its products, not illegal behavior. "We are big. That is not against the laws in the United States," Marriott told the court.

"This is a historic and resounding victory for artists, fans, and the venues that support them."

California Attorney General Rob Bonta

"The verdict is in! A jury today found Live Nation/Ticketmaster liable for anticompetitive conduct that harmed the music industry and included overcharging consumers. This is a historic and resounding victory for artists, fans, and the venues that support them," said Attorney General Bonta.

"In the face of dwindling antitrust enforcement by the Trump Administration, this verdict shows just how far states can go to protect our residents from big corporations that are using their power to illegally raise prices and rip off Americans. We are incredibly proud of today's outcome — and especially proud of our coalition made up of red and blue states alike who understood we needed to come together to protect our consumers, businesses, and state economies from Live Nation's illegal conduct."

"Today's landmark jury verdict in our case against Live Nation confirms what we have said since the start of our case: For far too long, Live Nation has illegally profited from its monopoly at the expense of hardworking New Jerseyans."

New Jersey Attorney General Jennifer Davenport

New Jersey Attorney General Jennifer Davenport said: "Today's landmark jury verdict in our case against Live Nation confirms what we have said since the start of our case: For far too long, Live Nation has illegally profited from its monopoly at the expense of hardworking New Jerseyans. Live Nation's illegal, anti-competitive practices have caused immense damage in our state, exploiting consumers by driving up the price of tickets and making it harder for fans to see their favorite artists.

"Our office, working in close partnership with a bipartisan group of state attorneys general, will continue to do everything in our power to ensure that Live Nation cannot continue to harm consumers, artists, and venues. We are committed to protecting our residents from illegal monopolies and restoring competition in the live music marketplace."

"Today a jury in New York found Live Nation and Ticketmaster operated as an illegal monopoly."

New Hampshire Attorney General John M. Formella

New Hampshire Attorney General John M. Formella welcomed the verdict in a statement: "Today a jury in New York found Live Nation and Ticketmaster operated as an illegal monopoly. This verdict ensures that Live Nation and Ticketmaster will be held accountable for violations of federal and state antitrust laws, including New Hampshire's antitrust law. New Hampshire is proud to stand with our fellow State Attorneys General across the country in celebrating this victory for consumers. We are grateful for the jurors' attention to this important case which impacts numerous aspects of the live entertainment industry."

Stephen Parker, Executive Director of the National Independent Venue Association (NIVA), was more pointed in his response to the jury's findings:

"In the 44 days Live Nation's lawyers spent arguing about whether they broke the law, Live Nation made $3.1 billion. Today, the jury confirmed what artists, fans, and independent venues have believed for 15 years: Live Nation is an illegal monopoly. The consequences should be swift and disruptive to their vertically-integrated market power.

"Live Nation and Ticketmaster must be broken up now. Ticketmaster should not be permitted to participate in the ticket resale market. Live Nation should not be able to promote more than 50% of artists' tours. And the damages paid to the states should be remitted to the independent venues, promoters, festivals, and fans that have suffered under Live Nation's monopolistic reign over the last 15 years.

"The nation's fans and independent stages have hope once again because the jury saw Live Nation for what it is. Now the case is in the hands of the judge and the Plaintiff States to determine the remedies that will protect and compensate fans, venues, and promoters for the effects of their monopolistic conduct, and prevent it in the future."

The verdict arrived one day after six US senators sent a letter to Judge Subramanian urging him to invoke his authority under the Tunney Act to scrutinize — and potentially reject — the Department of Justice's March settlement with Live Nation.

Senators Amy Klobuchar, Elizabeth Warren, Cory Booker, Richard Blumenthal, Mazie Hirono, and Peter Welch argued in the letter, which you can read here, that "mere behavioral safeguards like those in the proposed settlement are insufficient to remedy Live Nation-Ticketmaster's monopoly power."

The senators also raised serious concerns about the circumstances surrounding the settlement itself. They cited sworn testimony from fired DOJ deputy Roger Alford, who stated that Live Nation lobbyist Mike Davis had threatened then-antitrust chief Gail Slater over a separate case — and later "admitted in sworn testimony that he recommended Ms. Slater's firing to 'anyone who would listen.'"

Slater was removed from her position on February 12, less than a month before the DOJ reached its settlement with Live Nation.

The senators called on the court to conduct an independent examination into whether the deal was "genuinely made in the public interest," and asked that all parties be required to disclose a complete record of communications surrounding the agreement.

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