A federal jury has ruled that Live Nation and its subsidiary, Ticketmaster, illegally operated a monopoly in the ticketing industry for live events. The decision followed a closely watched antitrust trial lasting approximately five weeks in Manhattan federal court, which included testimony from dozens of witnesses spanning the music and entertainment sectors.
Omeed A. Assefi, the Acting Assistant Attorney General for the DOJ’s Antitrust Division, described the verdict as a “fantastic outcome for the American people.” He noted that the Justice Department and some states had settled their case to secure immediate relief, while remaining states received liability findings and will proceed to remedies trials. “Everyone but Live Nation wins with this scenario,” Assefi stated.
Fans are unlikely to see ticket prices or fees drop soon. Judge Arun Subramanian will now hold a second trial to determine remedies, including whether to order the breakup of the company or require structural changes such as selling off businesses. Scott Grzenczyk, a lawyer with Girard Sharp, called the verdict an “earthquake in the industry,” emphasizing: “There’s a big difference between people complaining about Goliath and getting a jury verdict that Goliath was a monopolist and doing something wrong.”
The Justice Department and 39 state attorneys general, including those from California, New York, and Washington, D.C., sued Live Nation in 2024. They alleged the company’s combination with Ticketmaster and control of “virtually every aspect of the live music ecosystem” harmed fans, artists, and venues.
New York Attorney General Letitia James stated: “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.” California Attorney General Rob Bonta labeled it a “historic and resounding victory for artists, fans, and the venues that support them,” adding that in the face of dwindling antitrust enforcement by the Trump Administration, the ruling demonstrates how states can protect residents from corporations illegally inflating prices. Texas Attorney General Ken Paxton noted: “I just secured victory against Live Nation in court to end its illegal monopolization and make live events more affordable.”
Live Nation’s stock dropped over 5% following the verdict as investors assessed potential impacts. In a statement, the company clarified that the jury’s award of $1.72 per ticket applies only to tickets sold at 257 venues—representing about 20% of total tickets—from certain states over five years. The firm stated its aggregate damages would fall below $150 million (trebled), and it has already accrued $280 million toward state claims. The company also plans to renew motions challenging liability and damages rulings while the court determines whether structural remedies or other actions will be implemented.