Live Nation, Ticketmaster, and SeatGeek Agree to List Extra Fees Upfront

If you've ever purchased event tickets online only to be shocked to see the price increase significantly at checkout due to extra fees, you'll like this news. Some top online ticket-selling platforms have agreed to provide "all-in pricing" so consumers know the total cost of tickets before buying them. This update comes after President Joe Biden encouraged companies to be more transparent about extra fees.

Junk fees impact the wallets of consumers

The Biden administration has been campaigning to reduce junk fees. Junk fees are extra costs that businesses charge, which aren't typically disclosed upfront. Examples of such charges include overdraft fees, ticket fees, and resort fees.

When you purchase something, it can be frustrating to learn that it will cost more than anticipated because of additional fees added further along in the checkout process. Junk fees can significantly impact consumers' wallets, making everyday expenses more costly.

Biden has called on Congress to pass legislation that reduces or limits such fees. The president has also encouraged companies that charge these fees to change how they're displayed, so consumers are more aware of the actual cost of a purchase upfront.

Knowing the total price you'll pay before you pull out your credit card is ideal. There has been some progress in the quest to crack down on junk fees, and your personal finances could be positively impacted by recent changes to how some brands are displaying prices.

Wave goodbye to hidden fees when buying event tickets

This week, President Biden met with representatives from the event ticketing industry to discuss the need for more transparent pricing. Before the meeting, some companies pledged to alter their pricing practices to be more transparent about fees.

Live Nation, which owns Ticketmaster, will automatically list all prices upfront for all tickets to events at more than 200 of its own venues starting in September. The company will also give customers the option to view all-in pricing when searching for other tickets sold on its platform.

SeatGeek agreed to make similar changes. The online ticket platform will also enable customers to view all-in pricing when buying tickets. Changes like this can make it easier for shoppers to make more informed purchase decisions and could help some consumers keep more money in their checking accounts.

Another company that has recently changed how it displays its prices is Airbnb. The vacation home rental platform added a total price display feature, allowing consumers to view all-in pricing when searching for homes to rent. This feature makes it easier for travelers to honor their vacation budgets.

Consumers benefit from transparent pricing

All of this is welcome news if you've been hoping for more price transparency from businesses like Ticketmaster. Extra fees add up, and consumers already struggling financially feel the most impact as they continue paying for everyday expenses while trying to avoid credit card debt.

As more businesses change how they disclose fees, it'll be easier for consumers to compare prices when making purchase decisions. These changes can also help consumers stay on budget, because they'll know the total cost of event tickets before checkout. Hopefully, more companies will agree to wave goodbye to hidden fees in the near future.