A federal jury has found that Live Nation, the entertainment giant behind Ticketmaster, monopolized the concert ticket market.
The verdict, as reported by the New York Times, came after four days of jury deliberations. Judge Arun Subramanian will decide on the remedy, which could be divestments by Live Nation or a split of Live Nation and Ticketmaster.
In the trial, which could have sweeping consequences for the concert and entertainment industry, Live Nation insisted that it operates competitively but legally and that it does not threaten venues into signing Ticketmaster contracts.
But the jury found that Ticketmaster, which last year sold 646 million tickets, had overcharged customers by $1.72 per ticket.
The federal lawsuit was brought by 40 states and the Department of Justice, with the latter settling with Live Nation a week into the trial. The settlement left the concert company with a $300 million fine, a cap on service fees of 15 percent of ticket prices, and limits to exclusivity contracts with venues.
Despite the DOJ’s settlement, 34 states continued with the trial.
One particularly revealing piece of evidence was unsealed private messages between Live Nation employees.
The employees, ticketing directors Ben Baker and Jeff Weinhold, wrote to each other on Slack in January 2022 to brag about inflating ancillary fees like VIP parking and lawn chair rentals.
In a message about a Kid Rock concert in Tampa, Baker wrote, “These people are so stupid” and “I have VIP parking up to $250 lol.”
“I almost feel bad taking advantage of them,” he continued. "ВАНАНАНАНАНА”
Baker also shared a spreadsheet showing increased revenue for premier parking and wrote, “Robbing them blind baby That’s how we do.”
Live Nation said in a statement that the conversation “"absolutely doesn’t reflect our values or how we operate," per Rolling Stone.
