Music fans frustrated by hidden fees on concert tickets have found a powerful ally. President Joe Biden recently announced that such a “surprise charge” would come after that as part of a sweeping new initiative.
In a speech on Oct. 26, Mr. Biden announced that he had “asked the competition council to take on unfair and hidden fees known as ‘junk fees’ that rob you of real money.” of an American family. ”
Examples of such “junk fees” cited by the President include bank overdraft fees, credit card late fees, hotel resort fees, and concert ticket processing fees. The commander-in-chief called such practices “unfair” and described them as “surprise claims of companies sneaking into the bill.”
in follow up Tweet On November 3, Biden doubled down on his promise to crack down on such fees.
“I know hidden junk fees like concert ticket processing fees are painful,” the president wrote. I have asked the government to crack down on these fees and put the money back in your pocket.”
Biden’s initiative comes just after a turbulent period for the live music industry. The COVID pandemic has forced concert cancellations across the United States. This is an unprecedented industry-changing event. Ticket companies struggled to process the high volume of refunds. At one point, the country’s biggest concert revenue for his promoter, Live Nation, was down 98% year-on-year.
As the live music industry recovered, fans returned to concerts and festivals. But that excitement has been clouded by high ticket prices, especially to see major artists: Ticketmaster’s “dynamic pricing” strategy sparked outrage, with Bruce his Springsteen reunited Blink-182 being the most expensive I ranked in a tour. Overall, concert ticket prices are up nearly 20% from his pre-COVID average.
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