A jury in a high-stakes antitrust trial found Wednesday that Live Nation and its subsidiary Ticketmaster illegally maintained monopoly power in the ticketing market.
Jurors delivered the verdict in federal court in New York City after around five weeks of trial, which featured testimony from dozens of witnesses. The jury began deliberating Friday.
Walden Green, writing for Pitchfork:
The conversations are between Ben Baker, now head of ticketing for Venue Nation, and Jeff Weinhold, currently a senior director in the ticketing department. Baker and Weinhold joke about overcharging and price-gouging fans—“Robbing them blind, baby,” Baker brags in one exchange pertaining to a Kid Rock show in Tampa Bay—as well as being able to raise prices on ancillary services such as parking seemingly at will. “These people are so stupid,” Baker writes. “I almost feel bad taking advantage of them BAHAHAHAHAHA.”
A “term sheet” spelling out details of the pact said Live Nation had agreed to let venues reach deals that would let a certain portion of tickets be sold by entities other than Ticketmaster. It also would let up to 50% of all tickets to be sold through any ticketing marketplace at amphitheaters that Live Nation owns, operates or controls.
The term sheet also called for Ticketmaster to cap its service fees at those amphitheaters at 15% and to divest ownership or control of 13 amphitheaters, including venues in Milwaukee, Cincinnati, Syracuse, New York, and Austin, Texas. It said Live Nation will create a $280 million settlement fund to settle claims or pay civil penalties to states.
Live Nation will be offering “$20 all in tickets” for a variety of shows. They’re calling it “National Concert Week” and you can find out more information here.