A jury found Live Nation and Ticketmaster abused their market power, which may lead to significant changes in the concert industry, pending further legal proceedings
SAN DIEGO — A jury verdict has found Live Nation and its Ticketmaster subsidiary abused their dominance in the concert industry through anticompetitive monopoly practices, potentially marking a significant shift in how concert tickets are sold and priced, depending on the final decision in this legal fight.
“Well, according to the jury, fans were affected by having to pay on average $1.72 more than they would have paid had there have been competition, and the interesting thing is that we go now from liability to a damages phase in trial, which will not occur for a number of weeks,” said Legal Analyst Dan Eaton.
Live Nation released a statement following the verdict, noting that the verdict is not the final word and pointing to pending motions. The company predicted the outcome would not look substantially different from a separate settlement it previously reached with the federal government.
A portion of Live Nation’s statement said, “The jury's award of $1.72 per ticket applies to a limited number of tickets—those sold at 257 venues, which represent about 20% of total tickets—and only to purchases by fans (excluding brokers) in certain states over the past five years. Based on that scope, we believe the aggregate single damages figure would be below $150 million, which would be trebled.  In connection with the DOJ settlement, Live Nation has already accrued $280 million toward state damages and civil penalty claims.â€
California Attorney General Rob Bonta celebrated the verdict, stating in a press release in part, “This is a historic and resounding victory for artists, fans, and the venues that support them.”
Legal experts suggest the outcome of the ruling could potentially reshape the entire concert industry.Â
“Because whatever happens, assuming this verdict holds up on appeal, the marketplace for the sale of tickets, for the booking of artists, for access to arenas, is going to change dramatically, and that’s going to have a practical effect when all is said and done, assuming this holds up on San Diego concert goers,” Eaton said.
According to Bonta's office, the case now goes back to the judge. During this phase, a judge will determine critical details, including the number of tickets Live Nation sold, total damages, final penalties, consumer restitution and any injunctive relief the company must follow going forward.
