Live Nation Says All-In Ticket Pricing Has Led to 8% Increase in Sales
The post Live Nation Says All-In Ticket Pricing Has Led to 8% Increase in Sales appeared first on Consequence.
Live Nation says that in the six months since implementing its all-in ticket pricing policy, the company has seen an 8% increase in completed transactions.
Live Nation and its subsidiary, Ticketmaster, implemented the policy last year as part of an initiative spearheaded by the White House to eliminate so-called “junk fees.” Since September, the company has been up front with the total cost of tickets, including all taxes and fees, for shows held at Live Nation venues and festivals in the US.
In a statement from the company, Live Nation noted the “encouraging” development indicated greater transparency for fans and an increase in artist sales, as fewer carts were abandoned at checkout. “Showing the total cost to walk in the door upfront is better for fans and artists,” said Live Nation CEO Michael Rapino. “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.” Since introducing the change, over 9,000 Live Nation venues currently operate with all-in pricing. The program is continuing to roll out across the country.
The report arrives as the US House of Representatives prepares to vote on the TICKET Act, a multi-layered piece of legislation that includes a focus on transparency in pricing across ticketing platforms. It also precedes a potential antitrust lawsuit with the US Department of Justice, which focuses on issues of dynamic pricing, resale policies, and the company’s merger with Ticketmaster.
Last week, Live Nation unveiled its annual collection of $25 concerts, which extended to over 5,000 shows for 2024 Concert Week.
Live Nation Says All-In Ticket Pricing Has Led to 8% Increase in Sales
Mary Siroky
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