"The Federal Trade Commission (FTC) and seven states sued Ticketmaster and its parent company, Live Nation Entertainment, on Thursday, for allegedly failing to crack down on ticket resellers and "engaging in illegal ticket resale tactics" by selling the "illegally harvested tickets at a substantial markup in the secondary market, causing consumers to pay significantly more than the face value of the ticket.""
"The FTC press release alleged Ticketmaster used "deceptive pricing tactics" and earned "hundreds of millions selling tickets acquired illegally by brokers" which cost consumers "billions of dollars in inflated prices and additional fees." The agency further alleged in a complaint that California-based Ticketmaster and its parent company "deceived artists and consumers" by engaging in "bait-and-switch pricing" by advertising lower prices for tickets than what consumers must pay to purchase tickets;"
The Federal Trade Commission and seven states filed a lawsuit accusing Ticketmaster and Live Nation of allowing ticket brokers to acquire and resell tickets illegally at substantial markups, raising costs for consumers. The complaint alleges deceptive pricing, bait-and-switch advertising of lower prices, and strict purchase limits that brokers routinely exceeded while selling millions of tickets often at much higher cost to consumers. The FTC alleges the company earned hundreds of millions from these practices, costing consumers billions in inflated prices and additional fees. The complaint cites violations of the FTC Act and the BOTS Act and seeks civil penalties and monetary relief. Ticketmaster is the leading provider of concert and event tickets and is part of Live Nation Entertainment.
Read at Fast Company
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