A federal jury in Manhattan has decided that Live Nation and Ticketmaster illegally kept a monopoly in much of the live events industry. The case was brought by 34 states and the District of Columbia. Officials said the company used its large position in ticket sales and concert promotion to block competitors and increase prices for customers.

After the decision, Live Nation’s share price dropped by 6.3%. Other ticket companies saw their shares rise as investors worried that Live Nation could face penalties or new rules. The jury found the company broke antitrust laws.

The court will now discuss what changes or punishments should happen next. State officials want steps to improve competition in the industry. Many hope this will help lower ticket fees and support smaller companies. The result of this process could influence the whole live entertainment business in the United States.