A federal jury in New York has found that Live Nation and its Ticketmaster subsidiary illegally maintained monopoly power in the ticketing market for major concert venues, marking a major win for the coalition of states that continued the antitrust case. The jury also found that Ticketmaster’s conduct caused concertgoers in 22 states to pay $1.72 more per ticket at major venues.

The case was originally brought by the U.S. Justice Department and dozens of state attorneys general in 2024. They argued that Live Nation used its control over ticketing, venues, concert promotion and booking to limit competition, raise fees for fans, and reduce options for artists and venues.

The verdict came after about five weeks of trial testimony and several days of jury deliberations. The remaining issues, including damages and other remedies, will now be decided by U.S. District Judge Arun Subramanian. Those remedies could include major financial penalties and possible structural changes to the business.

Live Nation denied that it acted as a monopoly and said the ruling is not final. In a statement, the company said, “The jury’s verdict is not the last word on this matter,” and said it plans to renew its motion for judgment as a matter of law while continuing to challenge the damages analysis used in the case.

The company also argued that the jury’s damages finding applies to a limited portion of its business, saying the affected tickets were sold at only part of its venue network and only in certain states over the last five years. Live Nation has said it believes the total single damages figure would be under $150 million before any trebling.

The case moved forward even after the Justice Department reached a separate settlement with Live Nation in March. Under that deal, Ticketmaster agreed to divest up to 13 amphitheaters, reserve 50% of tickets for nonexclusive venues, and cap service fees at 15%. But many state attorneys general rejected that settlement and pursued their own claims in court.

The ruling is one of the biggest legal setbacks Live Nation has faced in years and could have major consequences for how concert tickets are sold in the U.S. For now, though, the company is still preparing its next legal challenge, and the final penalties have not yet been set.