A federal jury just ruled that Live Nation and Ticketmaster illegally monopolized the ticketing market - answering “yes” on every single liability question. Ticketmaster controls 86% of the concert ticketing market and overcharged fans by $1.72 per ticket at major venues.
The stock dropped 6%, but Live Nation just posted record revenue of $25.2 billion in 2025 with 159 million fans through its venues. The DOJ already settled for a $280 million fund, but 30+ state attorneys general kept fighting - and won.
Now a judge will decide the remedy, and a forced breakup of Ticketmaster is on the table. Does breaking up the monopoly destroy the business - or unlock value in two separate companies?
Here's how the community voted
Record revenue of $25.2B, adjusted operating income up 10% to $2.4B, and 159M fans in 2025. Deferred revenue for 2026 hit $4B (up 21%), with North American large venue bookings pacing up double digits.
Wall Street has long argued Ticketmaster’s high-margin ticketing platform is worth more standalone than buried inside a concert promoter. A forced separation could create two focused companies where the sum of the parts exceeds the whole.
Live Nation plans to appeal, and the DOJ already settled without requiring a breakup. The remedy trial hasn’t even started yet. Analysts still rate the stock “Strong Buy” with an average price target of ~$184, roughly 15% above current levels.
The jury ruled against Live Nation on every single liability question: monopolization in primary ticketing, large amphitheater access, unlawful tying, and overcharging consumers across 22 plaintiff states.
Live Nation’s power comes from the “flywheel” between its venues, concert promotion, and ticketing. Separating Ticketmaster removes the integrated model that drives its dominance. Without bundling, both pieces become more vulnerable to competition.
The DOJ consent decree already caps service fees at 15% and bars exclusivity at 13 amphitheaters. Senators Klobuchar and Warren are pushing the judge to scrutinize the settlement as too lenient. The regulatory environment is only getting tighter.
Record revenue of $25.2B, adjusted operating income up 10% to $2.4B, and 159M fans in 2025. Deferred revenue for 2026 hit $4B (up 21%), with North American large venue bookings pacing up double digits.
Wall Street has long argued Ticketmaster’s high-margin ticketing platform is worth more standalone than buried inside a concert promoter. A forced separation could create two focused companies where the sum of the parts exceeds the whole.
Live Nation plans to appeal, and the DOJ already settled without requiring a breakup. The remedy trial hasn’t even started yet. Analysts still rate the stock “Strong Buy” with an average price target of ~$184, roughly 15% above current levels.
The jury ruled against Live Nation on every single liability question: monopolization in primary ticketing, large amphitheater access, unlawful tying, and overcharging consumers across 22 plaintiff states.
Live Nation’s power comes from the “flywheel” between its venues, concert promotion, and ticketing. Separating Ticketmaster removes the integrated model that drives its dominance. Without bundling, both pieces become more vulnerable to competition.
The DOJ consent decree already caps service fees at 15% and bars exclusivity at 13 amphitheaters. Senators Klobuchar and Warren are pushing the judge to scrutinize the settlement as too lenient. The regulatory environment is only getting tighter.
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Sometimes a company needs to work a little harder to improve their bad name, this is one of those times
The numbers are much stronger than I would have guessed but I would never buy the stock of a company that makes money primarily by being the only option customers have, and having a fairly hated product.