A jury in New York found Live Nation and its subsidiary Ticketmaster guilty of maintaining an illegal monopoly over major concert venues, siding with dozens of states in a major antitrust case, as reported by the Associated Press. The jury concluded their practices led to higher ticket prices, including an estimated $1.72 overcharge per ticket in affected states.
While the ruling won’t immediately lower prices, it could result in hundreds of millions in penalties and potentially force the companies to sell some venues. The case now moves to a damages phase, where remedies could reshape the live entertainment ticketing market.
