US President Joe Biden is expected to announce on Thursday, June 15, that Live Nation and Ticketmaster, two of the largest ticketing companies in the US, have committed to providing customers with the option to view the total price of tickets before making a purchase.
According to CNN, the president has asked Congress to implement laws targeting additional hidden expenses paid by consumers throughout the economy, and this news comes as the sector is under greater pressure from scandals over excessive ticket prices.
This is Biden's latest attempt to address voters' everyday concerns before the 2024 election, as the economy remains a major issue for them.
According to a written statement released by the National Economic Council's Director Lael Brainard, "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."
Guaranteeing Transparent, All-Inclusive Price Upfront
On Thursday, Biden will host a roundtable discussion at the White House with officials from businesses who provide all-inclusive pricing upfront or have committed to doing so in the future months. Live Nation, SeatGeek, xBk, Airbnb, the Pablo Center at the Confluence, TickPick, DICE, and the Newport Festivals Foundation are among them.
According to the Wall Street Journal, the White House said that among the pledges to be made on Thursday is Live Nation's promise that beginning in September, all tickets sold for its shows via Ticketmaster would display one "clear, total price." Ticketmaster has also said it would implement a tool that will show the entire price of tickets for all events before purchasing.
When Live Nation and Ticketmaster merged in 2010, the resulting company was called Live Nation Entertainment.
Tom See, president of Live Nation's venues, 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."
In addition, both SeatGeek and xBk (an Iowa-based competitor) has promised to streamline the purchasing process on their respective sites by displaying prices in their entirety.
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First Steps Toward a Nation Without 'Junk Fees'
Today's voluntary measures show that businesses of all sizes understand the value of offering transparent, all-inclusive pricing to customers rather than trying to catch them off guard with hidden costs. According to a White House fact sheet, this is just the beginning of efforts to eliminate "junk fees" from the economy.
In February, Biden proposed the Junk Fee Prevention Act to address four types of unreasonable charges: high prices for online concerts, sporting events, and entertainment ticket purchases; fees charged by airlines to families sitting together on flights; excessive early termination fees for television, telephone, and internet services; and unexpected resort and destination fees.
Last year, at a meeting of the Competition Council, Biden's Transportation Department took action to cut unnecessary hidden fees from airlines and travel sites, which the president had previously said were "weighing down family budgets."
