The head of one of the largest companies in entertainment praises the administration step to cut the price-load that has It is widespread in the concert industry.
CEO of Live Nation Entertainment Inc. Michel Rapin thanked the administration for “taking tickets on the head”, saying that the order would protect US consumers and artists.
The company owned by Live Nation and Ticketmaster and is regarded as a dominant force in the live entertainment industry, promoting, operating and driving tickets for Live Entertainment, saw that his shares were jumping in the news.
The administration stated that the concert industry and entertainment in America supports 913,000 jobs unscrupulous average people The outrageous fees impose on fans is not profitable for artists.
“Most of us want to get the prices we put in the hands of fans at these prices,” Rock Stewart Varna said at Varney & Co.
The essence of this issue is that the scalper use boots to acquire a large number of tickets for value, and then resell them on significant marking in the secondary market and consumers.
Currently, Live Nation has said it stops more than 200 million boots a day, which is a number that “continues to grow geometric progression”. The company stated that it also made innovation about the denominations, which is a function that allows fans to resell tickets to other fans at the original price they paid. However, “more efforts are needed to stop the resale that hurts American supporters and consumers, and we support the future actions of the administration and other state politicians,” the company said.
According to the CEO of Resy, the said
“We support any significant resale reforms – including more implementation of the law on boots, Caps at resale and much more,” Rapin said on X.
On March 13, 2025, singer Jesse figure with Killswitch performs at the theater at Virgin Hotels Las Vegas. (Ethan Miller / Getti Image)
According to the order, the Federal Commission on Trade (FTC) was instructed to cooperate with the Attorney General to ensure that the laws in the concert and entertainment industry were fulfilled. This includes the implementation of the Ticket Ticket Law (Bots), which came into force eight years ago, and encourage the fulfillment of state consumer protection bodies.
The administration stated that at the time after its entry FTC only twice obeyed the law on boots. Law is designed to prevent the use of scalper Ticket boots.
On November 12, 2017, Keith Urban performs on stage for the Bridgestone Arena concert at Bridgestone Arena in Nashville, Tennessee. (John Shire / Country Rising / Getty Image)
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The FTC was also aimed at providing pricing at all stages of the ticket purchase process, including the secondary ticket market. The agency must also guarantee that there is no unfair, deceptive and anti-component behavior on the secondary tickets market.
During 180 days the Treasury, the Ministry of Justice and FTC will have to summarize, which have already been taken to solve the problem, and recommend the additional rules and legislation necessary to further protect consumers.
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2025-04-01 19:29:00
