Settlement reached in Live Nation antitrust case, but states oppose

Live Nation and Ticketmaster have settled a high-stakes antitrust lawsuit with the Department of Justice (DOJ) just a week after the case went on trial.

The suit claims the company built an illegal monopoly in live entertainment following its Ticketmaster merger.

Live Nation agreed to settle the case, avoiding a possible breakup. The deal, subject to court approval, would open ticket sales to rival platforms, allow performers to use other promoters at its venues, and create a $280 million fund for states that join the settlement.

However, the agreement has hit a major roadblock: a bipartisan coalition of more than two dozen states has refused to sign the DOJ’s new settlement. New York, California, Illinois, and several others argue that the fine and proposed changes fail to dismantle the monopoly at the heart of the case.

The deal aims to reduce Live Nation’s grip on the industry, where it currently controls approximately 78% of major US amphitheaters.

It reportedly requires Ticketmaster to allow rival platforms like SeatGeek and Eventbrite to list tickets on its site, cap service fees at Live Nation-owned venues at 15%, and exclusivity contracts with venues to a maximum of four years.

New York AG Letitia James said the legal settlement “would benefit Live Nation at the expense of consumers.”

Live Nation CEO Michael Rapino expressed pride in the settlement and maintained that the company’s success stems from superior service.