Current:Home > StocksLive Nation's hidden ticket fees will no longer be hidden, event company says-VaTradeCoin
Live Nation's hidden ticket fees will no longer be hidden, event company says
lotradecoin blockchain network compatibility View Date:2024-12-25 23:43:06
Following a push from the Biden administration, concert promoter Live Nation is vowing to be more transparent in telling consumers how much they're paying for a ticket to a show.
Ahead of a White House event Thursday to tout the government's effort to crack down on "junk" fees, the company said it plans to roll out "all-in" pricing for venues it owns that will allow ticket buyers to see all fees for an event at the start of a commercial transaction. The new system will be live in September, according to the White House.
"This is real transparency which leads to more competition and brings down costs for working Americans," President Biden said Thursday at a White House event attended by Live Nation Venues President Tom See and the CEOs of Seat Geek, xBk, DICE and TickPick.
Ticketmaster, the popular ticketing service owned by Live Nation, will also add an optional feature for users to see upfront pricing for all tickets sold on the platform, not just those at Live Nation-owned concert venues. However, it will be up to venues to choose how their prices are displayed, a Live Nation spokesperson said.
"Fans typically know tickets will include service fees, but seeing the total cost from the start makes buying tickets easier and consistent with other retail shopping experiences," the company said in a statement.
"Sickened" by junk fees
Add-on ticket fees, which sometimes exceed a ticket's face value, have become a target of political and popular outrage in recent years. Democrats in Congress recently introduced the Junk Fee Prevention Act, which would bar extra fees for communication services, event tickets and airline seating.
The Cure frontman Robert Smith lashed out at Ticketmaster in March, saying he was "sickened" by fan reports of fees for his concerts exceeding the ticket's face value.
"TO BE VERY CLEAR: THE ARTIST HAS NO WAY TO LIMIT THEM. I HAVE BEEN ASKING HOW THEY ARE JUSTIFIED," Smith tweeted.
At a Senate hearing in January, members of the band Lawrence described making just $6 from a concert ticket that Ticketmaster sold for $42 after adding on a 40% fee.
Ticketmaster's commitment to be more open about its pricing practices could be a boon for consumers — the platform controls about 80% of ticket sales in the U.S., and parent company Live Nation operate some of the country's most popular and profitable venues. More than 30 million people attended an event at a Live Nation venue last year, according to the White House.
"This is a huge win for consumers," Teresa Murray, consumer watchdog at the U.S. PIRG Education Fund, said in a statement. "The elimination of surprise junk fees shouldn't be limited to entertainment and hospitality companies. There are many industries, including airlines, retailers and banking, that can and should do better."
All in on all-in pricing
All-in pricing options are also coming to SeatGeek and to xBk, an event venue based in Des Moines, Iowa.
"People have been calling for all-in pricing for concert tickets for some time," Chuck Bell, advocacy program director for Consumer Reports, told CBS MoneyWatch.
"We think having price transparency is really desirable because people can make better purchasing decisions, but it's probably not going to limit how much [venues] are charging,' he added. "Mainly people will be able to more accurately forecast spending."
Beyond the concert hall, Consumer Reports is pushing Congress to go further in regulating the covert fees that commonly show up in booking a hotel room, renting an apartment, and buying a car, cell phone or airline ticket.
"Unfortunately this issue is not just limited to a few sectors — it's shot through the economy," Bell said. "We hear from people on fixed incomes who say, 'These fees are eating up more and more of my Social Security check.' This situation is more serious than it might appear from looking at just one industry."
- In:
- Biden Administration
- Live Nation
- Consumer News
- Joe Biden
- White House
- Entertainment
veryGood! (48461)
Related
- Netizens raise privacy concerns over Acra's Bizfile search function revealing citizens' IC numbers
- MTV Movie & TV Awards 2023 Live Show Canceled After Drew Barrymore Exit
- House Judiciary chair Jim Jordan seeks unredacted DOJ memo on special counsel's Trump probes
- Half a million gallons of sewage leaks into Oregon river after facility malfunction
- Oregon lawmakers to hold special session on emergency wildfire funding
- Algae Blooms Fed by Farm Flooding Add to Midwest’s Climate Woes
- They were turned away from urgent care. The reason? Their car insurance
- Company Behind Methane Leak Is Ordered to Offset the Climate Damage
- KISS OF LIFE reflects on sold
- Real Housewives Star Lisa Barlow’s Mother's Day Amazon Picks Will Make Mom Feel Baby Gorgeous
Ranking
- 'September 5' depicts shocking day when terrorism arrived at the Olympics
- Real Housewives Star Lisa Barlow’s Mother's Day Amazon Picks Will Make Mom Feel Baby Gorgeous
- Cuba Gooding Jr. settles lawsuit over New York City rape accusation before trial, court records say
- This rare orange lobster is a one-in-30 million find, experts say — and it only has one claw
- Travis Kelce Praises Taylor Swift For Making Eras Tour "Best In The World"
- MTV Movie & TV Awards 2023 Live Show Canceled After Drew Barrymore Exit
- Today’s Climate: June 9, 2010
- Bernie Sanders’ Climate Plan: Huge Emissions Cuts, Emphasis on Environmental Justice
Recommendation
-
Biden commutes roughly 1,500 sentences and pardons 39 people in biggest single
-
Thawing Arctic Permafrost Hides a Toxic Risk: Mercury, in Massive Amounts
-
Jim Hines, first sprinter to run 100 meters in under 10 seconds, dies at 76
-
Daily 'breath training' can work as well as medicine to reduce high blood pressure
-
Taxpayers could get $500 'inflation refund' checks under New York proposal: What to know
-
See Kaia Gerber Join Mom Cindy Crawford for an Epic Reunion With ‘90s Supermodels and Their Kids
-
The Experiment Aiming To Keep Drug Users Alive By Helping Them Get High More Safely
-
These Candidates See Farming as a Climate Solution. Here’s What They’re Proposing.
Tags
-
lotradecoin token listing requirements
lotradecoin integration with payment systems
lotradecoin cryptocurrency news updates
lotradecoin competition
lotradecoin account registration process
lotradecoin partnership announcements
lotradecoin trading tutorial for beginners
lotradecoin versus coinbase exchange
lotradecoin availability