A jury in New York has ruled that Ticketmaster and its parent, Live Nation, engaged in illegal monopolization of portions of the live-events market, New York Attorney General Letitia James said on Wednesday. The verdict was announced as part of an antitrust case brought by the state and a coalition of other states.
Following the jury's decision, shares of Live Nation fell 6.3% in afternoon trading, a move that was reported initially by Bloomberg News. By contrast, stock prices for competing ticketing platforms moved higher on the news - Vivid Seats rose 9.3% and StubHub climbed 3.5%.
The ruling increases the likelihood of additional court hearings to determine what steps Live Nation must take to restore competition in the markets identified by the verdict. The company had previously agreed to implement certain measures in a settlement reached last month with the U.S. Department of Justice, but New York and other states that continued their separate case viewed the jury decision as a legal victory.
Live Nation has been the target of criticism from both fans and lawmakers over its ticketing practices, including complaints about high fees and the handling of ticket resales. Those criticisms were noted in the context of the trial and the broader scrutiny that preceded this verdict.
"This is a landmark victory to protect New Yorkers from harmful monopolies," Attorney General Letitia James wrote in a post on the social media site X following the verdict.
A spokesperson for Live Nation did not immediately respond to a request for comment on the jury's decision or the potential next steps in the litigation.
The ruling marks a significant legal development for the world's largest live-event company and raises questions about how remedies ordered by the courts could reshape competitive dynamics in ticketing and secondary resale markets. The case will likely proceed to additional hearings to determine the specific relief that will be required to address the jury's findings.
Context limitations: The reporting here reflects the facts as announced related to the jury verdict, market reactions on the day of the ruling, statements by the attorney general, and prior settlement activity with the Department of Justice. Further details about proposed remedies, timelines for additional hearings, or responses from Live Nation beyond the lack of immediate comment were not provided in the information reported with the verdict.