In 2024, the Justice Department sued Live Nation, the parent company of Ticketmaster, alleging the company had built an illegal monopoly over live events due to its dominance in ticketing, venues and artist promotion. On Monday, the DOJ and Live Nation have come to a preliminary settlement in that lawsuit.
Live Nation will pay a fine of up to $280 million and open its ticketing processes to third-party sellers, according to The Associated Press.
Additionally, 13 amphitheaters will move to an open booking model, ending Live Nation’s exclusive booking rights and allowing third-party promoters to schedule events at those venues.
Not all are pleased with the outcome, including the District Court judge who will need to approve the final agreement, according to the AP.
The settlement puts new limits on long-term exclusive contracts, only allowing four years and allowing venues to allocate some of their tickets to competing platforms.
According to The Associated Press, Live Nation Entertainment said it was pleased with the deal and will let others decide how best to distribute up to 50% of tickets and cap ticketing service fees at 15%.
This should open the door for more independent venues and break up the company’s tight control of the industry, an industry that the Justice Department called “broken” last week in court.
“We have never relied on exclusivity to drive our ticketing business, it has simply been the result of having the best products, services and people in the industry,” Michael Rapino, the CEO and president of Live Nation, said.
It’s not over yet
Despite the agreement, there are some who are still unsatisfied.
New York Attorney General Letitia James said the settlement “fails to address the monopoly at the center of this case,” as reported by The Associated Press.
Over two dozen states plan to press forward in action against Live Nation, per The Associated Press. The trial is scheduled to resume next week.
The states involved have accused Ticketmaster of controlling all aspects of the industry and, in the words of The Associated Press, “engaging in a slew of practices to maintain a stranglehold over the live music scene.”
Stephen Parker, executive director of the National Independent Venue Association, called the agreement “a failure of the justice system,” according to The Associated Press.
He also added that Live Nation could potentially earn back the reported $280 million fine by this Friday.
