As Biden-era 'junk fee' rule takes effect, Ticketmaster says it will display fees more clearly
As a Biden administration ban on so-called 'junk fees' took effect Monday, Ticketmaster said it would start displaying the full price of a ticket as soon as consumers begin shopping.
Ticketmaster, long a subject of complaints about its hidden fees, was among those targeted by the new rule, which was announced in December by the Federal Trade Commission. The rule requires ticket sellers, hotels, vacation rental platforms and others to disclose processing fees, cleaning fees and other charges up front.
Ticketmaster said it agreed with the FTC's action.
'Ticketmaster has long advocated for all-in pricing to become the nationwide standard so fans can easily compare prices across all ticketing sites,' Ticketmaster Chief Operating Officer Michael Wichser said in a statement.
Ticketmaster said it will also tell customers where they are in line when they log in to buy tickets to an event. It will also give real-time updates to customers whose wait times exceed 30 minutes, letting them know ticket price ranges, availability and whether new event dates have been added.
Ticketmaster, which is owned by Beverly Hills, California-based concert promoter Live Nation, is the world's largest ticket seller, processing 500 million tickets each year in more than 30 countries. Around 70% of tickets for major concert venues in the U.S. are sold through Ticketmaster.
Ticketmaster said Monday's changes would bring North America in line with the rest of the world, where full ticket prices typically are displayed as soon as customers start shopping.
SeatGeek, a platform for buying and selling original and resale tickets, said it also updated its features Monday to make 'all-in pricing the default' setting.
'Fans deserve pricing that's clear from the start,' said SeatGeek CEO Jack Groetzinger said. "We're proud to roll this out across our platform and encouraged to see the industry move in this direction.'
It has been in the hot seat since 2022, when its site crashed during a presale event for Taylor Swift's upcoming stadium tour. The company said its site was overwhelmed by both fans and attacks from bots, which were posing as consumers in order to scoop up tickets and sell them on secondary sites. Thousands of people lost tickets after waiting for hours in an online queue.
Last year, the U.S. Department of Justice sued Ticketmaster and Live Nation, accusing them of running an illegal monopoly that drives up U.S. ticket prices and asking a court to break them up. That case is ongoing.
President Donald Trump is also eyeing the industry. In March, he signed an executive order that he said would help curb ticket scalping and bring 'commonsense' changes to the way live events are priced.
Under the order, the FTC must ensure 'price transparency at all stages of the ticket-purchase process' and take enforcement to prevent unfair, deceptive, and anti-competitive conduct.
'Anyone who's bought a concert ticket in the last decade, maybe 20 years — no matter what your politics are — knows that it's a conundrum,' said Kid Rock, who joined Trump in the Oval Office as Trump signed the order.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Guardian
42 minutes ago
- The Guardian
Oil prices expected to rise after US attack on Iran
Oil prices are expected to rise as the trading week starts, after the US attack on Iran stoked fears of an escalating regional conflict that could shut down the vital strait of Hormuz shipping route. A barrel of Brent crude was selling for about $77 on Friday, having risen by more than 10% since mid-June, when Israel's attack on Iranian nuclear sites prompted missile strikes from Tehran against Tel Aviv. President Donald Trump's decision to follow Israel in launching an attack on Iran over the weekend could drive prices up by a further $5 when markets open, according to forecasts from oil market analysts. Trading for the week begins at 11pm UK time on Sunday. 'An oil price jump is expected,' said Jorge Leon, head of geopolitical analysis at the energy intelligence firm Rystad and a former official at Opec, the group of major oil-producing nations. 'In an extreme scenario where Iran responds with direct strikes or targets regional oil infrastructure, oil prices will surge sharply. 'Even in the absence of immediate retaliation, markets are likely to price in a higher geopolitical risk premium.' Brent crude, the traditional benchmark global oil price, could gain $3 to $5 per barrel when markets open, SEB analyst Ole Hvalbye said in a note. Wall Street bank JP Morgan has previously forecast that the oil price could rise as high as $130 in the event that a sustained Middle East conflict closes the strait of Hormuz. Iranian officials have previously threatened to block the Strait, the conduit for a fifth of global oil consumption, if Tehran's interests are threatened. Any such retaliation could have huge knock-on effects for the global economy, with the resulting oil price shock risking a period of high inflation, as motorists pay more for petrol and the cost of transporting goods soars. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Brent crude settled at $77.01 a barrel on Friday, while the US West Texas Intermediate (WTI) benchmark was at $73.84. Some analysts played down the risk of long-term disruption to shipping routes, pointing out that most of Iran's oil exports to China pass through the strait of Hormuz. If oil prices were to rise to $130, that would exceed levels reached in the aftermath of Russia's invasion of Ukraine. The all-time high for Brent crude is $147.50, set in July 2008 just before the global financial crisis sent prices plunging.
Daily Mail
an hour ago
- Daily Mail
The tax-friendly state in America where ultra-wealthy flock to
Wyoming is rapidly establishing itself as a top destination for ultra-wealthy individuals and businesses, drawn by its tax advantages and high-end real estate market. As one of nine US states with no state income tax , Wyoming offers significant financial incentives for affluent residents. Additionally, the state's Dynasty Trust laws allow families to transfer wealth across generations while avoiding estate, inheritance and state income taxes - further solidifying its status as a tax shelter. The state's appeal is amplified by its business-friendly environment and low property taxes, attracting both individuals and companies seeking to minimize their tax burdens. 'Wyoming is the most tax-friendly state,' Latham Jenkins, a real estate agent with Live Water Jackson Hole told . 'Retirement benefits are not taxed at the state level, and it's one of the most business-friendly states in the nation.' Wyoming's luxury real estate market is also thriving. Although the state's overall housing inventory is limited, its high-end listings stand out. Approximately three percent of active listings in Wyoming are priced over $5 million - ranking significantly higher than neighboring states such as Idaho at 1.3 percent and Montana at 1.9 percent. The Teton County area - home to Jackson Hole, a world-class skiing destination - dominates the high-priced market, with 57 of the 69 listings above $5 million, reported. Aside from its proximity to the top-rated Jackson Hole Mountain resort, the region's appeal to the ultra-wealthy is driven by its exclusivity, stunning landscapes, and celebrity presence, with A-listers like Harrison Ford, Sandra Bullock, and Kanye West reportedly owning property in the area. The median listing price in Teton County sits at $2.95 million, while the state's median is $495,000. The area's limited land availability, with 97 percent of Teton County federally protected, further drives up demand, making it an attractive option for wealthy buyers. Despite strong demand, luxury homes in Wyoming tend to stay on the market longer than in other states. Properties priced at $5 million or more have a median listing period of 187 days, compared to 81 days in Idaho and 114 days in Montana, according to the real estate outlet. The state's extended timeline reflects a market where sellers, often without mortgages, are less inclined to lower prices, leading to a more patient and strategic selling process. Margi Barrie, associate broker with Prugh Real Estate, notes that sellers are in no rush. 'People are more bullish in their prices, and more confident. A lot of people aren't leveraged on their property so that they can sell them, or not,' she explained to In Teton County, 33.1 percent of listings were priced above $5 million as of May, suggesting a growing influx of high-net-worth individuals. However, the lack of price reductions indicates that many sellers are not eager to exit the market quickly. The northwestern state's combination of tax advantages, business-friendly policies, and a high-demand luxury real estate market make it an increasingly attractive destination for the ultra-wealthy. Its limited land availability and unique legal structures further enhance its appeal, positioning Wyoming as a key player in the ultra-high-net-worth market.
Reuters
an hour ago
- Reuters
Bitcoin falls 4% to $99,237
June 22 (Reuters) - Bitcoin, the world's largest cryptocurrency by market value, was down by 4.13% at $99,237 at 10:52 a.m. ET (1452 GMT) on Sunday. Ether, the second-largest cryptocurrency, was down by around 8.52% at $2,199.
