NEW YORK CITY — A federal jury in New York City on Wednesday found that Live Nation illegally operated as a monopoly in the live events industry. The jury also found that Ticketmaster, the company's ticketing arm, overcharged customers by $1.72 on each ticket sold, a figure that will serve as the basis for calculating damages.

The verdict came after four days of deliberations in a seven-week trial. Prosecutors from 36 states pursued the case after the U.S. Department of Justice reached a settlement with Live Nation in March and withdrew from the litigation. The DOJ, joined by approximately 40 states, had initially filed the civil lawsuit during the Biden administration, alleging the company's practices excluded competitors and resulted in higher ticket prices and worse service for customers. Arkansas, Nebraska, and South Dakota also withdrew from the case.

The DOJ settlement, reached after a meeting between Chief Executive Officer Michael Rapino and Acting Assistant Attorney General Omeed Assefi, required Live Nation to pay $280 million to states, discontinue exclusive booking arrangements at 13 amphitheaters, reserve 50% of tickets for nonexclusive venues, and cap ticketing service fees at 15%. The agreement also required the company to allow venues to use competing ticketing vendors such as SeatGeek or AXS. The settlement did not require Live Nation to split from Ticketmaster. Most state attorneys general rejected the terms and continued the litigation.

When he filed the lawsuit in May 2024, former Attorney General Merrick Garland called for Live Nation to split from Ticketmaster. In February, U.S. District Judge Arun Subramanian narrowed parts of the lawsuit but allowed claims related to large amphitheaters, Ticketmaster's role in the ticketing market, and state-level claims to proceed to trial. He dismissed claims related to concert promotion services and the ticketing market's impact on fans. Subramanian will determine additional monetary damages at a later date.

Jeffrey Kessler, attorney for the states, said after the verdict: "It's a great day for antitrust law. It's a great day for consumers. This case is a tribute to the 34 states and the District of Columbia who carried this case forward and it was my great honor to be working with them together on this." He added, "It is time to hold them accountable."

California Attorney General Rob Bonta said, "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." He also said, "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."

During the trial, Rapino testified that a cyberattack caused the company's 2022 Taylor Swift ticket sales issues. Live Nation said, "This settlement will resolve all remaining matters with the DOJ, without any admission of wrongdoing." The company has maintained it is not a monopoly and that artists, sports teams, and venues decide prices and ticketing practices.

Live Nation owns or has an equity interest in hundreds of venues and controls bookings for them. Ticketmaster, founded in 1976 in Phoenix, Arizona, merged with Live Nation in 2010 and is the world's largest ticket seller for live events. Last year, Live Nation organized more than 55,000 concerts worldwide, drawing 159 million attendees. The company's shares fell more than 6% after the verdict was announced.