President Biden made an announcement on Thursday alongside executives from ticket agencies, stating that these companies have made a commitment to stop adding unexpected fees at the end of customers’ online orders. This change comes after pressure mounted last year when people purchasing Taylor Swift tickets on Ticketmaster experienced inflated prices, long waiting times, and system crashes. According to NPR, Live Nation, which shares ownership with Ticketmaster, will begin listing all prices upfront for events at over 200 venues, benefiting more than 30 million customers. Additionally, Live Nation will offer customers the option for an all-inclusive price for other tickets sold on its platform.
Biden emphasized that greater pricing transparency can foster competition and reduce the amount consumers pay. Although service fees will still be applicable, shoppers will now be aware of them before adding tickets to their online cart. In attendance at the meeting were representatives from Live Nation, SeatGeek, DICE, and Airbnb. The agreement does not impose any limits on the fees these companies can charge or address Live Nation’s reported 70% share of the ticket-selling market, according to The Verge. The Break Up Ticketmaster Coalition, a group opposing the ticket agencies, expressed their lack of enthusiasm for the agreement, stating that it is a half-hearted attempt to avoid a Department of Justice investigation into Live Nation-Ticketmaster’s monopoly power over live events.
In February, Biden introduced the Junk Fee Protection Act, which aims to limit four types of charges: online concert, sporting event, and entertainment ticket fees; airline fees for families wanting to sit together on flights; early termination fees for TV, phone, and internet services; and unexpected resort and destination fees. The President encouraged competitors in the ticket industry to follow suit by adopting all-inclusive upfront pricing. He sees this as a victory for consumers and evidence that their efforts to combat junk fees are gaining momentum.
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