NY jury finds Live Nation illegally monopolized ticketing markets

[TaylorSwift 161,302]

Live Nation illegally monopolized the market for tickets, protecting its position through pressure and leverage, jurors in Manhattan federal court found Wednesday.

The jury found Live Nation and its subsidiary, Ticketmaster, represent an illegal monopoly that used its position to make it harder for rivals to compete. 

During the five-week trial, jury heard testimony from Ben Lovett of Mumford & Sons, Live Nation chief Michael Rapino and others.

The judge will decide how Live Nation should pay. The jury determined Ticketmaster overcharged consumers by $1.72 per ticket.

Live Nation, a live entertainment company, spans over 50 countries and puts on over 50,000 concerts and festivals each year, according to its website.

 

 

[monstertoronto 11,574]

Great but they think the overcharge was $1.72 per ticket? Girl. 

[FATCAT 60,884]

Lock 'em up!

 

[Lucas 30,780]

1 hour ago, monstertoronto said:

Great but they think the overcharge was $1.72 per ticket? Girl. 

Yeah I wonder how the hell they calculated this... doesn't seem anywhere close to reality

[hamartia 2,854]

Being on a jury for 5 weeks and having to listen to Mumford and Sons?? Had these poor people not been through enough????

[andy232000 13,129]

The interesting thing now is how the judge plans on making LN pay. It seems selling Ticketmaster is the ultimate goal, but that won’t necessarily solve the issue? A big company can still come and implement the same practices they are already doing. We need more ticketing options. Ticketmaster cannot be the only one.

[chronic 399]

That’s great and all, but what about the proven fact that they work with scalpers? 

[southpaw773 4,345]

9 hours ago, monstertoronto said:

Great but they think the overcharge was $1.72 per ticket? Girl. 

They overcharged friggin $1.72 per DOLLAR 

[Diamond Blood 4,551]

10 hours ago, Teletubby said:

The jury determined Ticketmaster overcharged consumers by $1.72 per ticket

????

[zevthepaparazzo 2,412]

Edited April 16 by zevthepaparazzo

[IllusionLover 7,488]

I still don't understand exactly what happened. All i remember is that Taylor Eras tickets were completely sold out during presale and left nothing for the general sale