SUPPORTING AMERICA’S LIVE ENTERTAINMENT INDUSTRY: Today, President Donald J. Trump took a noteworthy step by signing an Executive Order aimed at shielding fans from the predatory practices of ticket scalping, while simultaneously instituting sensible reforms to the ticketing landscape of America’s live entertainment sector.
- The Executive Order instructs the Federal Trade Commission (FTC) to:
- Collaborate with the Attorney General to ensure rigorous enforcement of competition laws in the concert and entertainment markets.
- Vigorously implement the Better Online Ticket Sales (BOTS) Act and enhance its enforcement through state consumer protection agencies.
- Guarantee price transparency throughout the ticket-purchase journey, including the secondary ticketing market.
- Assess and, if warranted, take action against unfair, deceptive, and anti-competitive practices prevalent in the secondary ticket market.
- The Order also mandates the Secretary of the Treasury and the Attorney General to ensure that ticket scalping businesses are in full compliance with the Internal Revenue Code and relevant laws.
- The Treasury, the Department of Justice, and the FTC are required to submit a report within 180 days that summarizes their actions addressing unfair practices in the live concert and entertainment sector, while also recommending further regulations or legislative measures needed to safeguard consumers.
ADDRESSING UNFAIR PRACTICES IN THE TICKET MARKETPLACE: President Trump is dedicated to making arts and entertainment—an enriching aspect of American culture—more accessible to the public.
- The live concert and entertainment industry contributes a staggering $132.6 billion to the U.S. economy and supports approximately 913,000 jobs. However, it has been marred by unscrupulous middlemen who impose excessive fees that benefit no one but themselves.
- Ticket scalpers often employ bots and other unethical tactics to acquire vast numbers of face-value tickets, subsequently reselling them at astronomical markups on the secondary market. This practice not only gouges consumers but also deprives genuine fans of the chance to enjoy their favorite artists without incurring crippling expenses.
- Some reports indicate that fans have paid up to 70 times the original ticket price in their quest for entry.
- It’s important to note that when this occurs, the artists themselves do not see any increase in profit; the scalpers and ticketing agencies pocket all the gains.
- Despite the BOTS Act being enacted over eight years ago to curb scalpers’ use of bots, the FTC has only acted once to enforce this legislation.
PROTECTING AMERICAN CONSUMERS: President Trump asserts that Americans should not have to endure exploitative pricing and unreasonable fees.
- This Executive Order addresses an issue that President Trump highlighted during his campaign, where he promised to tackle inflated ticket prices. He described the current situation, which often prices fans out of the market, as “very unfortunate.”
- This initiative is part of a broader effort by President Trump since returning to office to champion consumer protection.
- He has already put an end to New York City’s congestion pricing scheme, which negatively affected everyday Americans, including workers and small business owners.
- He signed an Executive Order aimed at empowering patients with clear and actionable healthcare pricing information.
- Additionally, he directed the entire administration to prioritize price relief for American families in the face of a cost-of-living crisis.
