Live Nation and Ticketmaster under fire for allegedly collaborating with ticketing brokers to artificially boost ticket prices
In a significant move to protect consumers, the Federal Trade Commission (FTC) has filed a lawsuit against Ticketmaster and Live Nation, accusing the companies of using illegal tactics to deceive customers and artists. The lawsuit, announced earlier this week, alleges that the companies knowingly allowed ticket brokers to resell tickets at higher prices, with Ticketmaster collecting fees on the resold tickets. The FTC claims that this practice resulted in millions of dollars being harvested by these brokers. President Donald Trump had previously expressed concern over consumers being ripped off when buying tickets to live events. In March, he signed an executive order urging the FTC to 'rigorously enforce' the Better Online Ticket Sales Act, a law signed into law by President Barack Obama in December 2016. The Better Online Ticket Sales Act prohibits companies from circumventing control measures used by online ticket sellers such as Ticketmaster. The FTC alleges that Ticketmaster deceptively hid ticket fees during the buying process, resulting in an estimated $16.4 billion from 2019 to 2024. The FTC Chairman, Andrew N. Ferguson, stated that the Trump-Vance FTC is working hard to ensure fans have a shot at buying fair-priced tickets. He also emphasised that this lawsuit is a significant step in ensuring fans have access to fair-priced tickets. The action against Ticketmaster is not the first time the FTC has taken action against companies violating the Better Online Ticket Sales Act. Just a month ago, the FTC accused the Key Investment Group of bypassing Ticketmaster's policies. The company is now being asked to face a civil penalty for violating the act. The lawsuit against Ticketmaster and Live Nation comes amidst efforts to evade ticket purchase limits for Taylor Swift's tour. The companies are accused of coordinating with third-party ticket brokers to bypass these limits, allowing them to purchase a large number of tickets and resell them at inflated prices. The FTC also claims that Ticketmaster provided technical support for brokers to help them circumvent ticket-buying limits. Moreover, it alleges that some brokers used fake IP addresses to bypass these limits, a practice that Ticketmaster was aware of. The lawsuit against Ticketmaster and Live Nation underscores the FTC's commitment to protecting consumers from deceptive practices in the ticket-selling industry. As the case progresses, it will be interesting to see how this affects the future of ticket sales and the measures companies take to ensure fair pricing for consumers.
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