On Wednesday, Elizabeth Warren (D-Mass.) and fellow Democrats celebrated after a federal jury found Ticketmaster and parent Live Nation Entertainment (NYSE:LYV) operated an illegal monopoly.
Democrats Call Verdict ‘Huge Win' For Fans
Warren hailed the decision as a major victory for consumers, criticizing prior federal enforcement.
"After the Trump DOJ gave the giant corporation a measly slap on the wrist, states fought back — and won," she said on X, adding, "This is HUGE WIN for music fans and concertgoers everywhere."
Sen. Amy Klobuchar (D-Minn.) echoed that sentiment, writing, "FINALLY. A jury says the truth about what nearly everyone in Washington keeps denying," while urging meaningful remedies to lower prices.
Rep. Summer Lee (D-Pa.) accused the companies of exploiting their dominance "for years," adding that the ruling marks a win for artists, fans and broader efforts to curb corporate abuse.
Jury Finds Ticketmaster Monopoly, Citing Consumer Harm
A Manhattan federal jury on Wednesday concluded that Ticketmaster overcharged consumers by about $1.72 per ticket across 22 states.
The case now moves to a remedies phase, where the court could impose penalties or even force divestitures, including venue sales.
State attorneys argued the company leveraged its control over venues, promotion and ticketing to block rivals and maintain its grip on the market.
Live Nation countered that its success stemmed from efficiency and that artists ultimately set ticket prices.
Live Nation and Ticketmaster did not immediately respond to Benzinga’s request for comments.
Live Nation Stock Drops As Rivals Rally
Shares of Live Nation Entertainment fell more than 6% during regular trading and slipped another 1.49% in after-hours trading, though the stock remains up 7.23% year to date, according to Benzinga Pro.
Meanwhile, rivals Vivid Seats (NASDAQ:SEAT) and StubHub (NYSE:STUB) moved higher on Wednesday, gaining 9.28% and 3.48%, respectively, with both also posting modest after-hours gains.
The case was initially brought by the Justice Department under the Joe Biden administration.
During the trial, the Donald Trump administration settled on federal claims that did not require breaking up Live Nation Entertainment and Ticketmaster, but most states deemed the agreement inadequate.
LYV ranks in the 67th percentile for Momentum on Benzinga Edge, signaling solid performance across short, medium and long-term trends.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Bryan J. Scrafford on Shutterstock.com
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