Trapital Live Nation and DOJ Settled. Now What?
Mar 16, 2026
Larry Miller, NYU music business professor and Sony Audio Institute director, breaks down the DOJ settlement with Live Nation/Ticketmaster. He explains why DOJ settled quickly. Short takes cover whether prices will fall, how primary and secondary markets interact, Ticketmaster’s tech edge, and what limits on exclusivity might change for venues.
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Why DOJ Chose A Fast Settlement
- The DOJ settled quickly to secure immediate, enforceable market changes rather than a multi-year trial.
- Dan Runcie and Larry Miller note settlement avoided lengthy litigation and preserved remedies like opening Ticketmaster systems and capping fees.
Settlement Includes Concrete Market Remedies
- The settlement delivers tangible operational remedies that can change marketplace behavior immediately.
- Remedies include opening parts of Ticketmaster's system to competitors, loosening exclusivity, capping some service fees, and relinquishing control of 13 amphitheaters.
Breakup Wouldn't Lower Prices For Blockbuster Shows
- Breaking up Live Nation likely wouldn't reduce prices for the most in-demand shows.
- Larry Miller emphasizes superstar shows face near-infinite demand so ownership structure doesn't solve top-tier price inflation.