June 14 (Reuters) – Live Nation and Ticketmaster will soon offer consumers all-in pricing on their popular ticket platforms, the White House announced as it convenes a meeting on Thursday to highlight efforts crack down on so-called junk fees.
President Joe Biden President is hosting a meeting at the White House of private companies – including Ticketmaster, SeatGeek and Airbnb – who have committed to fully disclose fees to consumers upfront. It is part of Biden’s broader effort to crack down on junk fees imposed by ticket companies, banks, airlines and other industries.
Live Nation will commit to roll out an upfront all-in pricing in September showing just one total price for more than 30 million fans who attend shows at the more than 200 Live Nation-owned venues and festivals across the country, the White House said.
Ticketmaster will also add a feature to give consumers the option to receive all-in upfront pricing for all other tickets sold on the platform, White House said.
Live Nation and Ticketmaster merged in 2010 after a Department of Justice brokered settlement that officials said would encourage competition and send ticket prices down. Critics, including lawmakers, have said that has not been the result.
SeatGeek, a ticketing platform that serves both the primary and secondary market, will roll-out product features over the course of the summer to make it easier for its millions of customers to shop on the basis of all-in price, the White House said.
Biden has called on Congress to pass legislation that mandates up-front all-in pricing for all ticket sellers, bans surprise “resort fees,” eliminates early termination fees charged by cable, internet, and cellphone companies, and bans family seating fees on airlines.
“President Biden has been working to lower costs for hardworking families by bringing down inflation, capping insulin prices for seniors, and eliminating hidden junk fees. More companies are heeding the President’s call so that Americans know what they’re paying for up front and can save money as a result,” said National Economic Director Lael Brainard.
Reporting By Jarrett Renshaw;
Editing by Mary Milliken and Stephen Coates
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