Live Nation mentioned: “The jury’s verdict is not the last word on this matter.”
The firm famous it had submitted a request to the court docket to reject professional testimony associated to how the award for damages was calculated.
There have been different pending motions that would alter the end result of the case, it mentioned.
A large of reside music and sports activities, Live Nation final yr organised greater than 55,000 concert events worldwide, drawing 159 million attendees.
The verdict might result in Live Nation and Ticketmaster being damaged up and probably open the way in which for smaller ticket-sellers and venues to compete with these firms for audiences and reside acts.
Increased competitors might carry down the value of tickets and see much less well-known performers capable of ebook venues extra simply.
Morgan Harper, a director on the non-profit financial advocacy organisation American Economic Liberties Project, referred to as the decision towards Live Nation “a historic victory for fans, artists, concert promoters and venue owners who have suffered for decades under the thumb of Ticketmaster’s monopoly”.
John Kwoka, a professor at Northwestern University who beforehand labored on the US Federal Trade Commission, mentioned the decision was a warning to massive companies in different industries.
“This shows that it is possible to conduct a focused trial that convinces a court of various anticompetitive acts,” Kwoka mentioned.
Live Nation’s shares fell by greater than 6% after Wednesday’s verdict was introduced.
As effectively ordering authorized measures to revive competitors, Judge Arun Subramanian might impose a monetary penalty on the corporate.
The jury discovered Ticketmaster had overcharged prospects by $1.72 (£1.27) on every ticket offered over a interval of a number of years. That determine is about for use as the idea for calculating damages.
Live Nation argued all through the trial that it was not a monopoly and that it competed “fiercely” with rivals within the leisure area, with sports activities groups, live performance promoters and different venue operators.