A federal jury has found that Live Nation and its subsidiary Ticketmaster illegally operated a monopoly in the live event ticketing industry during a closely watched antitrust trial. The verdict was delivered in Manhattan federal court after approximately five weeks of testimony from dozens of witnesses, including top executives across the music and entertainment sectors.

Omeed A. Assefi, the Acting Assistant Attorney General for the DOJ’s Antitrust Division, stated: “This is a fantastic outcome for the American people.” He added: “DOJ and some states settled their case and got instant relief. The remaining states received a liability finding and will now move on to the next phase of a remedies trial. Everyone but Live Nation wins with this scenario.”

Fans are unlikely to see immediate reductions in ticket prices or fees. Judge Arun Subramanian will conduct a second trial to determine remedies, which could include breaking up the company or requiring it to sell specific businesses.

Scott Grzenczyk, a lawyer with Girard Sharp, noted: “It will be an earthquake in the industry in terms of people’s perception in feeling validated.” He emphasized that “there’s 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 California, New York, and Washington, DC, sued Live Nation in 2024, alleging its 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 described the verdict as “a historic and resounding victory for artists, fans, and the venues that support them,” adding: “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.”

Texas Attorney General Ken Paxton declared: “I just secured victory against Live Nation in court to end its illegal monopolization and make live events more affordable.”

Following the ruling, Live Nation’s stock dropped over 5%. The company stated it would challenge the verdict by seeking a new trial on liability and damages. In response to the $1.72 per ticket award, Live Nation claimed it applies only to a limited number of tickets sold at specific venues in certain states, arguing the total potential damages would be below $150 million after trebling. The company noted it has already accrued $280 million toward state damages and civil penalty claims.