DOJ made the right call on Live Nation. Blue state AGs should follow
Almost two years ago, I was down in New Orleans for my family’s annual Jazz Fest pilgrimage, surrounded by tens of thousands of other live music fans. Although we had been a number of times in the past, 2024 was a special year because The Rolling Stones were headlining the festival. Halfway through their set, the familiar opening bars to “You Can’t Always Get What You Want” belted out from the stage as we all joined Mick Jagger in singing along.
I was reminded of the Stones’ memorable anthem earlier this week when the news broke that antitrust lawyers at the Department of Justice and state attorneys general gave up on trying to break up Live Nation and Ticketmaster, settling for a quarter billion dollars in fines and some major concessions from the ticketing giant.
It all began the same year, 2024, when the Justice Department sought a dramatic breakup of Live Nation and Ticketmaster amid growing frustrations among music fans – especially after the chaos surrounding Taylor Swift’s Eras Tour.
After 18 months of investigation and a full year of discovery that continued into the Trump administration, DOJ lawyers found no evidence of classic monopoly conduct including price-fixing or exclusionary barriers. The case rested on a narrow definition of the marketplace that many legal experts questioned, overlooking the broader live-entertainment ecosystem where artists, secondary markets, and competitors like SeatGeek and StubHub operate.
With those factors in mind, the same lawyers concluded that a federal judge was unlikely to force the breakup of Live Nation and Ticketmaster, akin to recent rulings in the case of Google and Meta. Settlement, which has been the rule rather than the exception in roughly 90% of antitrust cases over the last two decades during both Democratic and Republican administrations, was the pragmatic outcome.
Even if the case had succeeded, it’s unlikely it would have lowered ticket prices. Primary ticketing companies like Ticketmaster don’t set the prices – artists and their teams do, based on basic supply and demand in a post-pandemic boom for live events. Additionally, venues keep more than two-thirds of any service fees charged by ticketing companies to cover costs for operations, staffing, and security. As the DOJ lawyers found through the discovery process, high prices largely reflect extraordinary demand for top acts, not a ticketing conspiracy.
A handful of state attorneys general, many from blue states, are choosing to keep pressing for a breakup, but continuing to demand an outcome that courts are unlikely to support. This risks turning a serious policy debate into something closer to Mick Jagger-level stagecraft and risks diverting attention from issues that more directly affect consumers and the economy.
It’s time for common-sense Democrats – and anyone focused on delivering results – to recognize the realities of the live entertainment business. Artists set ticket prices, and Live Nation typically nets only about five cents on the dollar. The focus should be on policies that actually help fans and support a thriving live-music economy.
The settlement itself includes several pro-consumer reforms designed to increase flexibility and competition. Live Nation agreed to open its amphitheaters to all promoters, who will be able to distribute up to 50% of tickets as they see fit, while capping total service fees at 15%. Ticketmaster will offer both exclusive and non-exclusive contracts to major venues, preserving choice. Those are meaningful changes that expand access and competition in the marketplace.
At the end of the day, the case against Live Nation was never likely to solve the problem fans care about most: ticket prices driven by enormous demand for live entertainment. What it has done, however, is produce practical reforms that improve transparency and access.
Democrats – and policymakers across the spectrum – are at their best when we focus on real solutions for consumers and working people, not symbolic fights that deliver little relief. As proof of that theory, look at the recent gubernatorial elections in New Jersey and Virginia, where both Democrats won by double digits campaigning on actual plans and policies to tackle the affordability crisis Americans are facing.
The Justice Department recognized the limits of the case and chose a pragmatic path forward – and they got that satisfaction the Stones sing about. State officials should take the same approach. Let the settlement stand and move forward. Fans, artists, and the entire live-music ecosystem will be better off for it.