What to know about the Live Nation verdict and how it could affect concertgoers
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A US jury has found Live Nation, the parent company of Ticketmaster, guilty of running a monopoly over large concert venues, potentially leading to changes in the ticketing industry. The verdict could result in Live Nation paying hundreds of millions of dollars in damages and potentially altering its business practices.
A US jury has found Live Nation, the parent company of Ticketmaster, guilty of running a monopoly over large concert venues. The company was accused of smothering competition and blocking venues from using multiple ticket sellers. The verdict could result in Live Nation paying hundreds of millions of dollars in damages, as a judge found that Ticketmaster had overcharged customers $1.72 per ticket in 22 states. The next step will be determining the penalties, which could include forcing the company to sell off some of its venues. Democratic senators have urged the judge to scrutinize a proposed settlement between Live Nation and the federal government, arguing it was 'negotiated under suspicious circumstances'. The outcome may lead to increased competition and potentially lower ticket prices, but the impact on concertgoers remains to be seen.
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