The Federal Commerce Fee (FTC) has introduced a brand new rule banning “junk charges” throughout a number of industries, together with hidden prices for on-line live performance tickets.
Initially proposed in October 2023, the bipartisan rule requires a clear show of all obligatory charges upfront in the course of the shopping for course of, quite than whereas trying out. Along with live performance ticket charges, this contains undisclosed prices for reserving a resort or making a short-term trip rental (i.e., Airbnb).
“Individuals should know upfront what they’re being requested to pay — with out worrying that they’ll later be saddled with mysterious charges that they haven’t budgeted for and might’t keep away from,” FTC Chair Lina M. Khan stated in a press release. “The FTC’s rule will put an finish to junk charges round dwell occasion tickets, resorts, and trip leases, saving Individuals billions of {dollars} and thousands and thousands of hours in wasted time.”
It’s value noting that Dwell Nation and Ticketmaster already applied an all-in pricing mannequin in September 2023 as a response to complaints of shock charges. This previous Could, Dwell Nation stated it had seen an 8% enhance in gross sales in the course of the first six months.
In a press release concerning the new rule, the ticketing platform stated, “We’ve led the {industry} by adopting all-in pricing in any respect Dwell Nation venues and festivals and applaud the FTC’s industry-wide mandate so followers will now be capable to see the whole worth of a ticket proper upfront regardless of the place they go to see a present or purchase a ticket.”
This previous Could, the US Home of Representatives handed the TICKET Act, which can also be meant to extend pricing transparency within the ticket {industry} along with deterring speculative ticketing. The invoice may move the US Senate as quickly as this weekend as a part of a unbroken decision spending invoice, although each NIVA (Nationwide Impartial Venue Affiliation) and Dwell Nation/Ticketmaster have reportedly made a last-minute push to exclude the TICKET Act from the CR. Based on Ticket Information, sources accustomed to the state of affairs consider Dwell Nation could favor ready for the incoming Trump Administration so as to craft “extra pro-industry laws.” (Dwell Nation can also be the topic of an ongoing Division of Justice antitrust lawsuit, the standing of which may be very a lot up within the air given the approaching change in presidential administrations.)
In the meantime Child Rock has introduced that he’ll be working with the incoming Trump Administration to “open a can of whoop ass on the bots, scalpers, venues, ticketing firms, managers and artists alike who rip off and deceive the general public.”