“This will revolutionise the ticketing marketplace”: Deal has been worked out between the US Justice Department and Live Nation

It’s been reported that there has been a settlement in the US Justice Department’s action against Live Nation that could have resulted in the company being broken up under antitrust laws.

The Politico website has broken the story, which suggests that the deal – which is expected to be announced today (March 9) – involves Live Nation having to make a number of comprises in the form of changes to their business.

One of them is that Ticketmaster (which is owned by Live Nation) will be required to open up its platform to rival ticketing companies and allow third-party sellers such as Eventbrite to list tickets directly through Ticketmaster’s technology.

The deal will also place limits on the long-term exclusivity contracts that Ticketmaster has historically used to lock venues into its system. Henceforth, those agreements will be cut to four years and venues will be allowed to allocate a portion of their tickets to competing platforms. Live Nation will also be required to divest of “more than” 10 amphitheatres which they own.

So whilst this isn’t quite the fall of the house of Live Nation many were licking their lips at in anticipation, it does constitute a clipping of its wings.

“This will revolutionise the ticketing marketplace,” said one of Politico’s anonymous sources. “These are innovative technological solutions to a very difficult problem with prying open the marketplace.”

Live Nation will also be required to pay millions of dollars in damages to the US states that joined the Justice Department in suing the company in 2024, a joint action that was in the range of $200 million - $300 million. The Department argued the company has gradually built an illegal monopoly over its control of ticketing, venues and artist promotion which it used to squeeze competitors and ultimately drive up prices for artists and fans.

The deal will still require signing off by a federal judge, and even if it receives the go-ahead, it doesn’t mean the end of the legal action. A number of state attorneys general have said they plan to continue their suits even if the government reaches a settlement.

Indeed, New York’s Attorney General Letitia James confirmed as such in a statement, saying: “We will keep fighting this case without the federal government, so that we can secure justice for all those harmed by Live Nation’s monopoly.”