Biden announces Live Nation and Ticketmaster will allow consumers to see all fees in advance

CNN
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President Joe Biden will announce Thursday that entertainment giant Live Nation ( LYV ) and ticketing company Ticketmaster have pledged to give American consumers the ability to see the full price of tickets in advance, minimizing the often frustrating experience of seeing surcharges add up late in the checkout process when purchasing on net.

The announcement comes amid increased pressure on the industry from debacles over exorbitant fares and as the president has urged Congress to pass legislation targeting other hidden costs paid by consumers throughout the economy. It marks Biden’s latest attempt to address kitchen-table issues as economic concerns remain uppermost in the minds of voters heading into the 2024 election.

“President Biden has worked to lower costs for hardworking families by bringing down inflation, capping insulin prices for seniors and eliminating hidden junk taxes,” National Economic Council Director Lael Brainard said in a written statement. “More companies are heeding the president’s call so Americans know what they’re paying for up front and can save money as a result.”

Biden will convene a White House roundtable on Thursday with representatives from companies that either already offer all-in pricing upfront or have agreed to provide that option to customers in the coming months. These include Live Nation, SeatGeek, xBk, Airbnb, Pablo Center at the Confluence, TickPick, DICE and the Newport Festivals Foundation.

Some of the commitments that will be announced Thursday include Live Nation’s pledge that all tickets sold for its shows through Ticketmaster in September will display one “clear total price,” according to the White House. Ticketmaster has also promised to add a feature that will allow customers to see the full price in advance for all other tickets sold on the platform. Live Nation and Ticketmaster merged to form Live Nation Entertainment in 2010.

In addition, SeatGeek and Iowa-based xBk have promised to make it easier for people to shop on their platforms based on the full price of the tickets they sell.

“Today’s voluntary actions show that businesses big and small recognize the importance of giving consumers honest, upfront all-in prices, rather than tricking them with surprise fees at the end of checkout. It is also only a first step towards addressing frivolous taxes in the economy, says a fact sheet from the White House.

In February, Biden proposed legislation – the Junk Fee Protection Act – to target four types of excessive fees, including: excessive ticket fees for online concerts, sporting events and entertainment, airline fees for families sitting together on flights, exorbitant early termination fees for TV, phone and internet services, as well surprise resort and destination fees.

Biden’s transportation department also took steps last fall during a meeting of the Competition Council to reduce “unnecessary hidden fees” from airlines and travel sites that the president warned were “weighing down family budgets.”