Live Nation illegally monopolized the market for tickets, jury finds
Live Nation illegally monopolized the market for tickets, protecting its position through pressure and leverage, jurors in Manhattan federal court found Wednesday.
The jury determined that Live Nation and its subsidiary, Ticketmaster, represent an illegal monopoly that used their position to make it harder for rivals to compete. The company controls concerts, tickets and event venues as part of its live event business.
During the five-week trial, jury heard testimony from Ben Lovett of Mumford & Sons, Live Nation chief Michael Rapino and others.
Last month, Live Nation and the federal government struck a deal that required the company to admit no wrongdoing. Nearly three dozen states pursued their claims that Ticketmaster dominated major concert venues and kept prices high through anticompetitive practices.
The judge will decide how Live Nation should pay. The jury determined Ticketmaster overcharged consumers by $1.72 per ticket. The company could be made to pay that back plus damages among possible outcomes.
Live Nation, a live entertainment company, spans over 50 countries and puts on over 50,000 concerts and festivals each year, according to its website.
Live Nation and Ticketmaster did not immediately respond to ABC News' requests for comment.
California Attorney General Rob Bonta, whose state was one of more than 30 to pursue the claims, reacted to the verdict in a press release on Wednesday calling the verdict "a historic and resounding victory for artists, fans, and the venues that support them."
The statement continued, "We are incredibly proud of today’s outcome — and especially proud of our coalition made up of red and blue states alike who understood we needed to come together to protect our consumers, businesses, and state economies from Live Nation’s illegal conduct.”
Live Nation released a statement on the verdict on Tuesday saying, "the jury’s verdict is not the last word on this matter"
"Live Nation will soon renew its motion for judgment as a matter of law, which the Court deferred until after the jury returned its verdict. That motion addresses all liability theories. The Court previously noted that Live Nation’s motion raises serious issues," the statement read.
The response continued, "There is also a pending motion to strike the damages testimony on which the jury’s award was based. The Court deferred ruling on that motion as well, while noting significant concerns with the damages expert’s analysis."
The entertainment company says it "can and will appeal any unfavorable rulings on these motions."
The U.S. Department of Justice reached a settlement in its antitrust lawsuit against Live Nation roughly one week after trial commenced in March.
According to a senior Justice Department official, among the changes included in the settlement, was a requirement for Ticketmaster to allow competitors like SeatGeek or StubHub to list tickets directly on its website -- putting price comparisons directly in front of consumers.
Live Nation also agreed to create a $280 million settlement fund for the 40 states that joined the Justice Department as plaintiffs.
The entertainment company agreed as part of the settlement to divest up to 13 amphitheaters, which the official said would help to remediate its monopoly power over major performance venues.
The company said in a statement at the time of the settlement it maintained the allegations were without merit, but it was "pleased" to have reached a settlement with the DOJ.
ABC News' Alexander Mallin contributed to this report.
