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An unusual spectacle in the Oval Office, rap and country star Kid Rock on hand as President Donald Trump autographed an executive order aimed at reining in runaway prices on U.S. concert tickets
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You buy a ticket for $100 by the time you check out, it's $170. You don't know what you're in charge for, but more importantly, these bots, you know, they come in to get all the good tickets to your favorite shows you want to go to, and then they're relisted immediately for sometimes a 4-500 percent
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a markup. Concert ticket prices in the U.S. have skyrocketed in recent years, as has the practice of scalpers
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using automated bots to scoop up the hottest tickets, which are then resold on secondary
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sites like Stubhub, often for several times their initial face value. Trump's latest order mostly targets those scalpers, directing the Attorney General and Treasury
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Department to enforce rules that require ticketing sites to report the revenue of resellers
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when it passes the $600 mark. It also, though, directs the Federal Trade Commission
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to ensure competition laws are properly enforced across the live events industry
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In 2024, the Biden Justice Department sued Live Nation, the parent company of Ticketmaster
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calling it a monopoly that abuses its power to crush competition and drive up prices
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The company has recently been involved in high-profile debacles, including the chaotic launch of sales
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for pop megastar Taylor Swift's Aeros tour that sparked lawsuits from fans and congressional hearings on the company's business practices
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The White House says America's live concerts and entertainment industry is worth an estimated $132.6 billion
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supporting more than 900,000 jobs
