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WASHINGTON — Swifties, the BeyHive and Cure fans can have a reason to rejoice: Senators on Wednesday are set to introduce a bipartisan bill targeting hidden ticket fees for live events.
Dubbed the Transparency in Charges for Key Events Ticketing (TICKET) Act, the measure would require ticketing merchants to reveal upfront full ticket prices, including fees, for concert events, sporting events and other large gatherings.
The brand new bill follows the reintroduction of the Junk Fee Prevention Act within the House earlier this month by Reps. Ruben Gallego, D-Ariz., and Jeff Jackson, D-N.C., and Biden administration moves to push fee transparency.
It also comes as lawmakers wage a broader battle against ticket sellers. In December, Taylor Swift fans sued Live Nation after its Ticketmaster site crashed during presales for the artist’s “The Eras Tour.” The fiasco prompted the Senate Judiciary Committee to look at the entertainment conglomerate’s power over the industry in a January hearing. On the time some critics on Capitol Hill called Live Nation a monopoly.
Ticketmaster also pledged to return some money to fans who purchased tickets to goth rock band The Cure’s “Shows Of A Lost World Tour” earlier this yr, after group leader Robert Smith slammed the costs. The ticket vendor offered as much as $10 refunded to verified fan accounts after agreeing with the band that lots of the fees charged during transactions were “unduly high,” Smith tweeted on March 16.
The brand new bill is co-sponsored by Sen. Maria Cantwell, D-Wash., the chamber’s Commerce Committee chair, and rating member Sen. Ted Cruz, R-Texas.
“The value they are saying ought to be the worth you pay. This bill is one a part of comprehensive laws I plan to introduce to rein in deceptive junk fees driving up costs for consumers,” Cantwell said in a press release.
In his statement, Cruz said, “The TICKET Act brings transparency to the entire ticketing industry, which is dominated by a couple of large players that may capitalize on these hidden fees.”
Ticket fees can comprise 21% to as much as 58% of the overall cost of tickets, in accordance with a press release from the committee. The bill goals to advertise competition “by delivering ticket fee and speculative ticket transparency for the good thing about all consumers,” the committee said.
If the measure passes, primary and secondary market ticket sellers — corresponding to Live Nation-owned Ticketmaster and SeatGeek — can be required to reveal your entire ticket price, including itemized fees, firstly of a transaction and prior to ticket selection. Total ticket prices must even be clearly displayed during event marketing.
Secondary market sellers can be obligated to completely disclose speculative ticket status, meaning that the vendor doesn’t have actual possession of the ticket.
President Joe Biden emphasized the administration’s effort to crack down on junk fees during his State of the Union address in February. Along with other areas, he called for motion on excessive fees for concert events, sporting events and other types of entertainment. Sens. Richard Blumenthal, D-Conn., and Sheldon Whitehouse, D-R.I., introduced the Senate companion bill to Biden’s plan in March.
In tandem with the administration’s goals, the Federal Trade Commission also released a rule-making proceeding on Nov. 8, 2022 — the day of the midterm elections — to probe unfair acts or practices related to ticketing and other various fees.
Ticketmaster has said it doesn’t control fees but does retain a portion for operating costs, in accordance with a Feb. 7 blog post. The seller also said it already supports “all-in” pricing in Latest York state, and advocates for nationwide adoption of the policy.
“We proceed to advocate for an industry wide mandate of upfront pricing, so fans see the complete face value and fee cost upfront. This only works if all ticketing marketplaces go all-in together so that customers truly have accurate comparisons as they shop for tickets,” Ticketmaster said within the blog post.