(L to R) Tobi Parks, CEO of xBk, US President Joe Biden and Lael Brainard, assistant to the President and director of the National Economic Council participate in an event about protecting consumers, in the East Room of the White House in Washington, DC, on June 15, 2023.
Andrew Caballero-Reynolds | AFP | Getty Images
WASHINGTON — Several major companies, including Live Nation, the parent company of Ticketmaster, have pledged to eliminate surprise “junk fees” in response to pressure from the Biden administration.
“Junk fees” are additional charges added to purchases, often associated with concert tickets, resorts, and rentals. President Joe Biden has prioritized ending this practice and invited representatives from Live Nation, Airbnb, SeatGeek, and others to a meeting on Thursday.
Both Live Nation and SeatGeek have committed to displaying all fees upfront for ticket purchases, according to the White House. The xBk venue in Iowa is also expected to do so. In December, Airbnb started including all fees in the final price after being urged to do so by the White House.
“Today’s voluntary actions demonstrate that companies, regardless of their size, recognize the importance of providing consumers with transparent pricing, rather than surprising them with hidden fees at the end of the checkout process,” stated the White House. “This is just the first step towards addressing junk fees in the economy.”
“In my view, this is a victory for consumers, and it proves that our efforts to combat junk fees are gaining momentum,” said Biden following the meeting, while acknowledging that more work needs to be done.
Biden launched his campaign against “junk fees” nine months ago and emphasized the need for private companies to take action in his State of the Union address earlier this year. The issue gained significant attention in November when customers faced excessively high prices for Taylor Swift’s Eras tour tickets.
“President Biden has been working to reduce costs for hardworking families by tackling inflation, capping insulin prices for seniors, and eliminating hidden junk fees,” commented Lael Brainard, the director of the National Economic Council. “More companies are answering the president’s call, enabling Americans to make informed decisions upfront and save money as a result.”
Brett Goldberg, co-CEO of TickPick, expressed his belief that the meeting was productive but expressed concerns that it might not go far enough. From the beginning, TickPick has utilized all-in pricing, ensuring no hidden junk fees.
“There is a significant negative sentiment surrounding ticketing, and even though this doesn’t solve all the issues, the majority of complaints revolve around hidden fees,” Goldberg stated. “Yes, the cost is a factor, but it’s the additional blow when you’re about to make a purchase for expensive tickets and then realize the final price is 20 to 30% higher.”
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
