FILE PHOTO: The logo for Live Nation Entertainment is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2019. REUTERS/Brendan McDermid/File Photo
WASHINGTON (Reuters) – Ticketmaster and other online ticketing companies said on Wednesday they support rules to require upfront disclosure of all the fees tacked on to concert and sporting-events tickets, but only if all ticket sellers are required to do so by law.
The $9 billion ticketing industry has frustrated American consumers with hidden fees for years. A Government Accountability Office study found in 2018 that fees can equal as much as 37% of a ticket’s face value.
In a memo announcing a congressional hearing, lawmakers also noted complaints about industry practices like restrictions on transfers, websites which appear to be for a venue but are not, and limited ticket availability because, for example, tickets are sold at pre-sales before the general public may buy.
Source Reuters Tech News