Live Nation Entertainment Applauds President Biden's Call for Fee Transparency & Supports FTC Mandating All-in Pricing Nationally

Rhea-AI Summary

Live Nation Entertainment (NYSE: LYV) supports President Biden's push for fee transparency in ticketing. The company applauds the all-in pricing mandate recently enacted in New York, which requires upfront disclosure of face-value prices and fees. Live Nation, operating in over 30 countries, believes that nationwide implementation by the FTC could lead to better consumer price comparisons across ticketing platforms. They assert that uniform all-in pricing allows for transparency and benefits consumers as they shop for tickets.

Positive

• Support for fee transparency aligns with consumer interests.
• Advocacy for all-in pricing could enhance market competitiveness.
• Successful implementation in other countries shows feasibility.

Negative

• None.

LOS ANGELES, Oct. 26, 2022 /PRNewswire/ -- We applaud President Biden's advocacy for fee transparency in every industry, including live event ticketing. Live Nation Entertainment advocated for the all-in pricing mandate passed in New York earlier this year, which requires face-value prices and fees to be shown upfront – and we support the FTC mandating this nationally. We operate ticketing marketplaces in 30+ countries around the world and have seen all-in pricing adopted successfully in many countries when mandated across the board. This only works if all ticketing marketplaces go all-in together, so that consumers truly have accurate comparisons as they shop for tickets. 

About Live Nation Entertainment

Live Nation Entertainment (NYSE: LYV) is the world's leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts and Live Nation Media & Sponsorship.  For additional information, visit www.livenationentertainment.com.

 

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SOURCE Live Nation Entertainment

FAQ

What is Live Nation Entertainment's stance on ticket pricing?

Live Nation Entertainment supports fee transparency and advocates for all-in pricing mandates, as promoted by President Biden.

When did Live Nation announce its support for fee transparency?

Live Nation announced its support for fee transparency on October 26, 2022.

How does the all-in pricing mandate benefit consumers?

The all-in pricing mandate ensures consumers see face-value prices and fees upfront, allowing for better comparison when purchasing tickets.

In how many countries does Live Nation operate?

Live Nation operates ticketing marketplaces in over 30 countries worldwide.