A federal jury in New York City ruled that Live Nation illegally monopolized the U.S. ticketing market for major concerts, a verdict that could reshape the industry. The decision followed five weeks of trial and four days of deliberation, echoing accusations that the company overcharged fans and coerced venues into using its platform in the broader.

The Justice Department had closed its own lawsuit against Live Nation last month, leaving more than 30 states to pursue claims independently. State attorneys general argue the company’s dominance inflates ticket prices and limits competition. If upheld, the ruling could trigger federal antitrust reviews and force the firm to alter its business model in the market.

Industry observers warn that a breakup could fragment the ticketing ecosystem, potentially reducing efficiencies that have kept costs lower for fans. Conversely, increased competition might spur innovation in secondary markets and push prices closer to face value. The outcome will test whether antitrust law can curb a single player’s control over live entertainment for attendees.

Live Nation’s legal team has said it will appeal, arguing the jury misread evidence and that its platform offers value to venues and artists. Meanwhile, more than 30 states are preparing to file lawsuits, potentially leading to a nationwide restructuring of the ticketing market. The verdict marks a decisive challenge to the industry’s status quo.