Live Nation posts record $25.2B revenue as monopoly trial nears

Live Nation posts record revenue as trial looms

Live Nation reported stronger-than-expected revenue and profit for 2025, even as it prepares to face a major US monopoly lawsuit next month. The entertainment giant, which owns Ticketmaster, said revenue rose 9% to $25.2 billion.

Operating profit jumped by more than 50% to $1.3 billion. The company attributed the growth to sustained, high demand for live music events worldwide.

Concert attendance and ticket sales surge

A total of 159 million fans attended Live Nation concerts in 2025, up from 151 million the previous year. The company said this demonstrates the powerful draw of live events post-pandemic.

Early sales for 2026 are also strong. Roughly 67 million fans have already purchased tickets for this year, a double-digit increase from the same period in 2025.

Executives pointed to record-breaking sales for upcoming tours by major artists as a key driver. "With a deep pipeline of large-scale shows and ticket demand continuing its ascent, we are positioned for another year of double-digit operating income," CEO Michael Rapino said.

The Department of Justice's monopoly lawsuit

These blockbuster financial results arrive as Live Nation prepares for a federal antitrust trial. The US Department of Justice sued the company in 2024, seeking to break it up.

Regulators argue Live Nation's control over multiple parts of the live music ecosystem has created an illegal monopoly. The company's integrated roles include:

• Concert promotion and production
• Ticket sales via Ticketmaster
• Ownership and operation of major venues

The DOJ alleges this structure makes Live Nation a "gatekeeper," stifling competition and leading to higher prices and worse service for fans. Live Nation has denied all allegations.

Ongoing backlash over prices and fees

Public and political scrutiny of Live Nation's dominance has intensified in recent years. Critics consistently accuse Ticketmaster of artificially inflating costs with excessive fees.

Calls for investigation grew deafening after the 2022 presale for Taylor Swift's Eras Tour. Overwhelming demand crashed Ticketmaster's systems, sparking outrage and a Senate hearing.

The company was forced to apologize to Swift and her fans. That incident became a national flashpoint, highlighting the lack of competition in the ticketing market.

Uncertainty ahead of the trial

The antitrust trial is scheduled to begin in federal court next month. However, the recent resignation of the DOJ's top antitrust official has introduced uncertainty about the government's strategy.

Despite the legal cloud, investor sentiment appears positive. Live Nation's share price rose more than 3.5% in after-hours trading following the earnings release.

The company now faces the dual challenge of navigating a high-stakes legal battle while capitalizing on what it calls an "unprecedented" demand for concerts. Its ability to maintain this financial momentum may hinge on the trial's outcome.