The impact on consumers after the landmark verdict against Live Nation, which owns Ticketmaster, could be huge.
This is the biggest thing to hit the concert industry in decades, but it will be a while before consumers see any refunds or changes in pricing.says, "Finally what we have is some justice for folks like you and me, just average everyday fans.
." Pennsylvania was part of a bipartisan coalition of more than 30 states that continued to pursue the antitrust lawsuit against Live Nation, even after the Department of Justice came to a settlement with the ticket behemoth.A federal jury found that Ticketmaster had overcharged customers $1.72 per ticket and a judge could order Live Nation to provide refunds."So what's going to happen next is there's going be another sort of trial, a mini trial essentially on damages," Sunday said. "Obviously, we're seeking damages that will provide money direct to consumers."But Live Nation has already said it plans to appeal, so consumers shouldn't expect money in their wallets any time soon. The hope is the verdict will lead to more options. "I think what consumers can expect to see is that they will have more competitive choices available to them when they're going out to buy tickets to concerts," Breyault said. As for prices? If you're going to see a big-name artist like Beyonce, Breyault says, "Those prices are going to continue to be through the roof. But I do think that what we'll start to see is that those fees that are adding 20, 30, 40 percent to the cost of a ticket may start to go down thanks to this verdict." It is now up to a judge to decide how much Live Nation should pay, and if it will be forced to break up the monopoly and/or part ways with Ticketmaster.
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