Event ticket platforms Ticketmaster and SeatGeek are in Washington, D.C. Thursday to put the final touches on so-called “junk fee” limits that drive up the prices of concerts, theater, and sporting events.
Both companies are among a handful of businesses meeting with President Biden at the White House in June. The President has been vocal about public-facing companies being transparent with their billing and fees before consumers pay up for their services.
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Now, ticket services companies are coming around with no-surprise “all-in” pricing as they meet with the President at the White House.
"Today's voluntary actions demonstrate that companies both big and small recognize the importance of providing consumers with honest, up-front all-in pricing, rather than tricking them with surprise fees at the end of checkout," the White House said in a statement. "It is also just a first step towards addressing junk fees in the economy."
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Live Nation (LYV), which owns Ticketmaster, has already indicated it's on board with all-in pricing, which is defined as a ticket with one clear and total ticket price, although its making that commitment official today. The company expects to roll out its new all-in ticket to the public in September, in the form of a customer option to choose an all-in ticket over traditional event tickets.
SeatGeek, which operates in both the primary and secondary event ticket market, hasn’t released an exact date for its all-in ticket rollout but has reportedly told the Biden administration it plans to move on the issue this summer.
All-in ticket pricing isn’t exactly new, as event services companies like TickPick, Dice, and the Newport Folk Festival and Newport Jazz Festival have offered transparent ticket prices for years. In the short-term stay sector, Airbnb introduced a total display pricing tool that enables buyers to see all fees before they sign up for a home rental.
With a big push from the White House, it looks like the online ticket sales industry is playing ball on transparent ticketing.
“For far too long, fans have lacked important consumer protections that other industries take for granted,” said SeatGeek Chief Executive Jack Groetzinger. “Fans want to understand the full cost of their purchase, with no deception or surprises along the way.”
