Revenue / 11.02.22
'All-In' Ticket Pricing on the Horizon? White House Calls for Elimination of 'Junk Fees'
Pollstar (10/26/22) Speer, Debbie
The White House and Consumer Financial Protection Bureau (CFPB) are taking aim at "junk fees" by calling for their reduction or removal as a possible initial step toward a national requirement for "all-in" concert ticket pricing. The Biden Administration describes junk fees as "fees designed either to confuse or deceive consumers or to take advantage of lock-in or other forms of situational market power," and this definition includes "mandatory fees that often hide the full price." Ticketmaster parent Live Nation applauded the move, stating that it "advocated for the all-in pricing mandate passed in New York earlier this year, which requires face-value prices and fees to be shown upfront." The company added that it supports "the [Federal Trade Commission] mandating this nationally." Live Nation continued, "We operate ticketing marketplaces in 30+ countries around the world and have seen all-in pricing adopted successfully in many countries when mandated across the board. This only works if all ticketing marketplaces go all-in together, so that consumers truly have accurate comparisons as they shop for tickets."
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