Live Nation and Ticketmaster have pledged to be upfront about their various fees and will include them in their ticket prices.
The move will be announced today (June 15) by President Joe Biden in his ongoing efforts to stop companies from hidden fees and other surprise costs from the American people.
National Economic Council Director Lael Brainard said in a statement, “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.”
Live Nation and Ticketmaster’s pledge to start including their fees in the upfront costs of tickets will begin in September.
Live Nation President of Venues Tom See said in a statement, “Live Nation is proud to provide fans with a better ticketing buying experience. We’ll continue advocating for innovations and reforms that protect that amazing connection.”
While many people are happy that Live Nation and Ticketmaster will be upfront about the cost of tickets, there appears to be a consensus on Twitter that there’s a larger problem. The problem? Live Nation and Ticketmaster’s monopoly over the entire ticketing industry.
One person tweeted about the news, “Great. Now break up Ticketmaster. Another person tweeted, “Transparency in ticket fees is important and necessary, in concert ticketing and everywhere else they exist. But pledging transparency doesn’t solve the core problem with Ticketmaster: It’s an unavoidable monopoly that can and will charge fans whatever it wants.” Another Twitter user noted, “All-in pricing is an important step to crack down on junk fees, but let’s be clear: Live Nation/Ticketmaster is a monopoly. Transparency alone won’t fix that. DOJ needs to break them up.”