Verdict in states’ lawsuit says concert giant stifled competition, raising pressure for changes to ticketing market
A jury has found that concert giant Live Nation and its Ticketmaster subsidiary had a harmful monopoly over big concert venues, dealing the company a loss in a lawsuit over claims brought by dozens of US states.
A Manhattan federal jury deliberated for four days before reaching its decision Wednesday in the closely watched case, which gave fans the equivalent of a backstage pass to a business that dominates live entertainment in the US and beyond.
Live Nation Entertainment owns, operates, controls booking for or has an equity interest in hundreds of venues. Its subsidiary Ticketmaster is widely considered to be the world’s largest ticket-seller for live events.
The civil case, initially led by the US federal government, accused Live Nation of using its reach to smother competition – by blocking venues from using multiple ticket sellers, for example.
