Ticketmaster and its parent Live Nation have operated monopolies in live event markets in the US and overcharged fans, a federal jury has found.
It follows a seven-week trial in New York that could result in Live Nation being forced to divest parts of the business or split from its ticketing arm.
The company could now face further court proceedings where US states would be expected to aim to force a sale of Ticketmaster and seek damages.
Former Attorney General Merrick Garland called for the live music giant to be broken up when he filed the lawsuit in May 2024.
The US Department Of Justice's legal case argued that Live Nation had shut out competitors, leading to higher ticket prices and a worse service for fans.
The market-leading US concert seller has been criticised by fans and lawmakers, including over the ticket sale “debacle” for Taylor Swift’s Era’s Tour.
Live Nation shares dropped by more than 6% following the verdict, while rivals’ stock prices saw increases.
"A jury found what we have long known to be true: Live Nation and Ticketmaster are breaking the law and costing consumers millions of dollars in the process," New York Attorney General Letitia James said in a statement.
In a statement, Live Nation said: "The jury's verdict is not the last word on this matter."
Live Nation has legal challenges in place that could affect the court verdict.
AIF CEO John Rostron said: "AIF has long spoken out and provided evidence against Live Nation's control and practices, which harm artists, consumers and the rest of the live music sector. This jury ruling is a great first step to ending that harm, but this issue goes far beyond ticketing. With similar influence across everything from festivals and concerts to venues and artist management, we now need similarly strong rulings in relation to the entire live music ecosystem across all territories. We hope that the Competition and Markets Authority will use this moment to expedite real action in the UK."
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