Nearly 9,000 Shows Display Total Ticket Costs
at Checkout as Policy Ramps up across 33 States plus Washington D.C.
LOS ANGELES ,
May 14,
2024 /PRNewswire/ -- Live Nation Entertainment's
all-in pricing policy, which shows a ticket buyer the total price
and fees associated with their transaction, has yielded an 8%
increase in completed sales in the first six months the program
rolled out across all Live Nation venues and festivals in the U.S.
The industry-leading initiative has proven beneficial for both fans
and artists, delivering greater transparency for fans while
increasing sales for artists and fewer abandoned carts at
checkout.
The encouraging data comes at a critical time as policymakers in
the House prepare to vote on the TICKET Act, which aims to ensure
transparent pricing for consumers among other ticket reforms. Live
Nation's move to all-in pricing has seen broad success, with nearly
9,000 shows displaying all-in pricing as the program begins to
scale. This benefits fans in the 33 states plus Washington, D.C., where Live Nation operates
venues.
"Showing the total cost to walk in the door upfront is better
for fans and artists. We're proud to have led the industry in
adapting this commonsense policy, and we encourage Congress to
enact a nationwide law so every ticket buyer benefits from this
transparency, no matter where they are buying their tickets," said
Michael Rapino, CEO of Live Nation
Entertainment.
In addition to advocating for a nationwide all-in pricing
mandate, Live Nation has actively supported the passage of all-in
pricing laws in state legislatures across the country including
California, Colorado, Connecticut, Maryland, Minnesota, New
York and Tennessee.
However, many resale platforms are still not compliant with these
state-led transparency standards. The company advises consumers to
be on the lookout for illegal drip pricing on other ticketing
platforms and to report such cases to their state Attorney
General's office. Live Nation also supports other ticketing reforms
that benefit consumers including banning speculative ticketing,
allowing artists to cap resale markups, enhancing legislation
against buying tickets with bots, and more.
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 Sponsorship. For additional
information, visit www.livenationentertainment.com.
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SOURCE Live Nation Entertainment