
Ticketmaster promises to display extra fees more clearly
The Biden administration 's ban on so-called "junk fees" began Monday, targeting industries like ticketing, hospitality, and vacation rentals.
The Federal Trade Commission (FTC) announced the rule in December, requiring businesses to disclose processing, cleaning, and other supplementary charges upfront.
Ticketmaster, frequently criticized for its opaque pricing practices, confirmed it would comply with the new regulation and expressed agreement 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.'
Ticketmaster 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.
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Reuters
7 minutes ago
- Reuters
Key US natural gas trends to track as LNG exports hit new highs
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Europe accounted for over two thirds of U.S. export volumes, followed by Asia. The top three markets were the Netherlands, France and Spain, which together accounted for 28% of total U.S. LNG shipments so far this year. Europe has accounted for over half of U.S. LNG exports since 2022, when Russia's invasion of Ukraine triggered sanctions on Moscow and disrupted commodities flows to Europe. Declines in European wind and hydro power electricity generation this year have also helped underpin gas use, while several European nations lifted imports of U.S. LNG in an attempt to reduce trade deficits with the U.S. once President Donald Trump returned to office. All told, Europe's imports of U.S. LNG from January through August are up 61% compared to the first eight months of 2024. Higher global natural gas prices - in part due to higher LNG demand from Europe - sparked gas rationing in other regions, especially in Asia where purchases of U.S. LNG have dropped 35% compared to the year before. 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Geeky Gadgets
36 minutes ago
- Geeky Gadgets
macOS 26 Beta 6: The Big Changes You Need to See
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The Independent
36 minutes ago
- The Independent
Air Canada cabin crew strike: Everything you need to know about the total shutdown
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