Live Nation has reported that since they implemented their all-in ticket pricing policy six months ago, they have seen an 8% increase in their completed sales.
According to consequence.net, Live Nation implemented this policy as a result of an initiative from the White House to eliminate “junk fees.” Since then, they have been more upfront with the costs of tickets and have included the sales tax and additional fees for shows and festivals held at Live nation venues.
Live Nation CEO Michael Rapino recently released a statement in which he noted that this development is better for fans and for artists, as this policy increases transparency for fans and led to an increase in artist’s sales. Rapino states, ““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.”
This report was published just before an antitrust lawsuit from the Department of Justice. This lawsuit follows an investigation regarding Live Nation’s policies regarding competition in the live music industry. This is one of many allegations regarding the current state of ticket prices and Live Nation’s power over them.
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