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The Biden administration's policy banning junk fees has taken effect. Ticketmaster — owned by Live Nation Entertainment (LYV) — will be displaying "all in prices" which includes fees for customers buying live event and concert tickets. Additionally, the event promoter is cracking down on bot accounts.
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The Biden era ban on junk fees took effect this week, and with it comes some big changes to purchasing your next concert ticket. Ticketmaster says it will start displaying the full price of a ticket to customers online. No more hidden fees that are only disclosed at the checkout last minute. The company says it will also give real-time updates to customers with a more than 30-minute wait time. The company will also continue to crack down on bots that buy mass quantities of tickets for resale in the blink of an eye. Ticketmaster says it blocks an average of 200 million attempts every day. The junk fee rule was announced back in December. It requires that hotels, rental platforms, and live event promoters include and disclose all fees in their initial pricing. Ticketmaster was supportive of the rule when it was announced, but has still faced scrutiny from the government. Last year, the Department of Justice launched an antitrust lawsuit against Ticketmaster and Live Nation. The DOJ accused the two platforms of running an illegal monopoly to boost US ticket sales. That suit is still ongoing.
