Federal jury finds Live Nation conducted illegal monopoly, overcharged fans

Jury rules against Ticketmaster & Live Nation in lawsuit

A major verdict came down against Ticketmaster's parent compant, Live Nation, finding it has been running a monopoly and overcharging fans. FOX 13's Kailey Tracy reports.

TAMPA, Fla. - Music fans, frustrated by skyrocketing concert prices, saw a significant victory in court this week, though experts warn that relief may still be a long way off.

A federal jury in New York found Wednesday that Live Nation, the parent company of Ticketmaster, operated a monopoly to stifle competition and overcharge customers.

The ruling stems from a massive lawsuit initiated during the Biden administration, backed by more than 30 states.

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The jury concluded that the entertainment giant blocked venues from using multiple ticket sellers, effectively forcing higher costs for fans. Specifically, the court found the company overcharged customers by $1.72 per ticket in 22 states.

While the verdict is a landmark moment for the industry, Dr. Shubha Ghosh, a professor at Syracuse Law School, suggests the impact on your wallet might be subtle.

"It may have a marginal effect on ticket prices in the long run for many reasons," Ghosh said. "People are willing to pay a lot of money for these tickets. There may be other sources of monopoly power, such as with venues, and, you know, there's an argument that these performers demand high prices for tickets. People want to go and they're willing to pay more."

"But the question is where does that money go to? Right now, the problem is it may be going to the monopolists like Live Nation and maybe the performers will get a bigger share of it," he said.

What's next:

The judge could order Live Nation to pay back the overcharged amounts, a move that could cost the company hundreds of millions of dollars. However, consumers shouldn't expect a check in the mail just yet. 

Legal experts noted that even if damages are awarded, the money may not be directly refunded to individual ticket holders.

"Consumers who have paid for tickets already may not see money back because this wasn’t a class action or a lawsuit filed by the concertgoers," Neama Rahmani, President of West Coast Trial Lawyers, said. "This was filed by the Department of Justice and the Attorney General trying to change Live Nation behavior going forward."

"Live Nation merged with Ticketmaster and monopolized the ticket industry, forcing venues into restrictive contracts and raising ticket prices—all while mocking Florida consumers," said Florida Attorney General James Uthmeier. "Our victory in court will allow the free market to determine how much you pay for tickets, rather than a mega corporation that used the threat of financial ruin against venues to stifle competition. It’s a big win for Florida consumers!"

Live Nation issued a statement following the verdict, asserting that the ruling is "not the last word" and confirming the company will file an appeal.

Live Nation Effects in Tampa

The news comes at a busy time for the Tampa music scene. Raymond James Stadium is set to host the Breakaway Music Festival this weekend, followed by a highly anticipated appearance by BTS next weekend. 

The ruling won’t affect those ticket prices.

While the hope is that the verdict will eventually open the market to more ticket sellers and drive down prices through competition, the relief won’t come immediately.