Major Ticket Sellers Agree to “All-In” Pricing in Response to Biden Crackdown on Hidden Fees

Major Ticket Sellers Agree to “All-In” Pricing in Response to Biden Crackdown on Hidden Fees

Edited by: TJVNews.com

Major ticket-selling companies, including Ticketmaster, Live Nation, and SeatGeek, have agreed to implement “all-in” pricing in response to President Biden’s crackdown on hidden fees, according to a report in the New York Post. The companies have committed to transparently disclosing all fees to consumers upfront, addressing the long-standing issue of “junk fees.” These fees, often buried in the fine print or added at checkout, have resulted in event goers paying significantly more than the originally advertised prices.

The introduction of all-in pricing aims to facilitate comparison shopping for live event attendees, allowing them to find the best deals among competitors. The Post reported that Live Nation plans to roll out the new pricing model in September, affecting over 30 million ticket buyers attending more than 200 shows at Live Nation-owned venues across the United States. Ticketmaster, which merged with Live Nation in 2010 and sells 70% of tickets for major US concerts, also intends to adopt a similar transparent pricing system, the Post report said. The company aims to provide customers with a clear, total price for tickets, although no specific date has been provided for the implementation of this service.

Resale ticketing platform SeatGeek, which has expanded into the primary market, has pledged to introduce product features over the summer to enhance the shopping experience for its millions of customers based on all-in pricing, as was reported by the Post. However, SeatGeek has not responded to requests for comment regarding this matter.

President Biden’s efforts to eliminate hidden fees began last September, with a broader initiative targeting junk fees imposed by ticket companies, banks, airlines, and other industries, the Post report indicated. New York became the first state to pass a bill prohibiting hidden fees in live-event ticketing, followed by California. Tennessee is expected to introduce similar state-level legislation, although ticketing industry representatives have expressed concerns that the bills may contain loopholes that render them ineffective.

The Post reported that in April, Senators Ted Cruz and Maria Cantwell passed a federal bill mandating all-in pricing to increase competition in the ticketing market and prevent ticketing companies from locking venues into long-term contracts. The bill also requires the Federal Trade Commission (FTC) to determine the point at which these contracts become excessively long, with four years being a predicted threshold.

Numerous instances of inflated ticket prices due to junk fees have drawn public outrage. For example, ahead of The Cure’s US tour in March, ticket prices that initially started at $20 ended up doubling due to additional fees. Fans expressed frustration on social media platforms, with one individual sharing their experience of paying a final sum of $172 for four tickets initially priced at $20 each, including a service fee of $46, a $40 facility charge, and a $5 processing fee, the Post report said.

Similar incidents occurred during the ticket sales for Bruce Springsteen’s tour with the E Street Band and Taylor Swift’s Eras Tour. The Post reported that Ticketmaster’s dynamic pricing algorithm, which adjusts prices based on supply and demand in real-time, resulted in seats for Springsteen’s concerts being sold for as much as $5,000 each. The ticketing process for Swift’s tour faced technical issues and inflated prices due to the overwhelming rush of customers, prompting Ticketmaster to cancel its general public ticket sale, according to the Post.

As an example of the current situation, tickets for Taylor Swift’s upcoming concert in Pittsburgh on June 16-17 were found to cost thousands of dollars, with the cheapest seats listed at $1,241 on Vivid Seats, the Post reported. However, the breakdown of junk fees was not provided by the ticket vendor.

The commitment of major ticket sellers to all-in pricing is expected to bring greater transparency and fairness to the ticketing industry, allowing consumers to make more informed choices and avoid unexpected additional costs.