In brief
In a significant antitrust trial, 34 U.S. states have taken on Live Nation Entertainment and its ticketing service, Ticketmaster, claiming the company is monopolizing the concert industry and raising ticket prices. The jury has started deliberations, expressing interest in reviewing testimony from the trial that highlighted Live Nation's control over a substantial market share. Meanwhile, Live Nation defends its stance, arguing that competition in the industry is stronger than ever. The Justice Department has previously reached a settlement with Live Nation, securing concessions in ticket sales.
NEW YORK (AP) — Jury deliberations began Friday in an antitrust case pitting 34 states against concert champion Live Nation Entertainment. The states argue the company, along with its ticketing service, Ticketmaster, is monopolizing the industry and inflating prices to attend live music events. In response, Live Nation asserts that competition is thriving in the booming concert business. Shortly after commencing deliberations, the jury in a Manhattan federal court requested to review specific testimonies from the five-week-long trial. The states continued their case after the federal government settled last month, securing crucial concessions from Live Nation regarding ticket sales at various venues. A lawyer for the states revealed that Live Nation holds an 86% market share for concerts, which dips to 73% when including sports events. Meanwhile, Live Nation’s attorney acknowledged the company’s leading position, clarifying that being the largest player doesn’t violate antitrust laws in the U.S.
