Musician Child Rock joins ‘Varney & Co.’ particulars his current podcast interview with Invoice Maher and weighs in on President Donald Trump’s tariff insurance policies.
The pinnacle of one of many greatest firms in leisure is praising the administration’s transfer to chop down on price-gouging that has proliferated within the live performance business.
Dwell Nation Leisure Inc. CEO Micheal Rapino thanked the administration for “taking ticket scalping head-on,” saying the order will defend American shoppers and artists.
TRUMP SIGNS EXECUTIVE ORDER TO PROTECT AMERICANS FROM ‘EXPLOITIVE TICKET SCALPING’ IN ENTERTAINMENT INDUSTRY
The administration stated America’s dwell live performance and leisure business helps 913,000 jobs and has a complete nationwide financial impression of $132.6 billion “but it has become blighted by unscrupulous middle-men who impose egregious fees on fans with no benefit to artists.” The order, which Trump signed Tuesday alongside musician Child Rock, is aimed toward bringing “commonsense reforms to America’s live entertainment ticketing industry.”
“The majority of us want to get the prices we set into the hands of fans at those prices,” Rock advised Stuart Varney on “Varney & Co.”
The crux of the difficulty is that scalpers are leveraging bots to amass massive portions of face-value tickets, then re-sell them at a big markup on the secondary market, and price-gouging shoppers.
At present, Dwell Nation stated it stops over 200 million bots a day, which is a quantity that “continues to grow exponentially.” The corporate stated it additionally innovated Face Worth Exchanges, which is a characteristic that enables followers to resell tickets to different followers on the unique value they paid. Nonetheless,”more efforts are needed to curb runaway resale that hurts American fans and consumers, and we support future actions from the administration and other state policymakers,” the corporate stated.
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“We support any meaningful resale reforms – including more enforcement of the BOTS act, caps on resale prices, and more,” Rapino posted on X.
Singer Jesse Leach of Killswitch Have interaction performs at The Theater at Virgin Inns Las Vegas on March 13, 2025. (Ethan Miller / Getty Pictures)
Underneath the order, the Federal Commerce Fee (FTC) was instructed to collaborate with the legal professional common to make sure that legal guidelines are correctly enforced within the live performance and leisure business. This contains implementing the Higher On-line Ticket Gross sales (BOTS) Act, which took impact eight years in the past, and inspiring its enforcement by state client safety authorities.
The administration acknowledged that within the time since its enactment, the FTC has solely enforced the BOTS Act twice. The regulation is designed to forestall scalpers from utilizing bots to buy tickets.
Keith City performs onstage for the Nation Rising Profit Live performance at Bridgestone Enviornment on Nov. 12, 2017, in Nashville, Tennessee. (John Shearer/Nation Rising / Getty Pictures)
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The FTC was additionally directed to make sure value transparency in any respect levels of the ticket-purchase course of, together with the secondary ticketing market. The company should additionally guarantee there isn’t a unfair, misleading and anti-competitive conduct within the secondary ticketing market.
In 180 days, the Treasury, the Division of Justice and the FTC must summarize actions already taken to handle the difficulty and advocate further laws or laws wanted to additional defend shoppers.
