WACO, Texas (KXXV) — A major legal ruling could shake up how fans buy concert tickets after a federal jury found Live Nation and its Ticketmaster unit operated as an illegal monopoly.
States argued the company stifled competition and drove up prices for fans. The case could now lead to hundreds of millions of dollars in damages or even bigger changes to how the company operates.
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Live Nation denies it is a monopoly and said it plans to challenge the ruling.
For Baylor University students, the decision hits close to home as many say the cost of seeing their favorite artists live seems out of reach.
Baylor student Tyler Truss said the problem isn’t a lack of love for live music, but the price tag that comes with it. He told me that for college students trying to balance tuition, rent, food, and everyday expenses, a concert can quickly turn into a big financial decision.
"Yes, so, recently actually, me and my roommates were looking to go see Ella Langley, and prices are outrageous. It's like $250 a ticket," Truss said. "I think generally speaking, if they're really well known artists like George Strait, Post Malone, I feel like it's fair to pay a pretty expensive premium price, but if you got nosebleed tickets and you're paying $150 it's not worth it."
"If it costs $250 to get into a concert and you can't even buy any food or drinks, it's probably not gonna be a fun time. You'll end up spending too much money so I mean, yeah, I just think it can definitely deter a lot of people from going to see uh the people they love," Truss said.
Truss told me his passion for music is still there, but for students his age, the cost of getting through the door is starting to outweigh the experience.
"I love going to see concerts. I've seen a bunch, especially being from Austin, but yeah, I don't know of anybody going to see Post Malone," Truss said.
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