Taylor Swift, Junk Fees, and the 'Happy Meal Fallacy'

WHEN AMERICA’S LARGEST ticket retailer announced plans to adjust its pricing structure, President Joe Biden was quick to claim credit

- Eric Boehm

But concertgoers really should thank Taylor Swift and her fans.

In June, Ticketmaster, the massive ticket- selling arm of global concert promoter Live Nation, said its website would start displaying full prices upfront on each event page. Those prices include venue fees and processing costs that used to be added later in the purchasing process (but still well before customers paid).

The company had been under pressure from Swifties after a series of mishaps involving ticket sales for Swift’s much-in- demand Eras Tour. Although those problems were not caused by the supposedly hidden fees, the latter also became a target of customer outrage.

The promised price transparency is nice, of course, and smart marketing. But according to Biden, Ticketmaster’s decision validates his ongoing war on the “junk fees” charged by a wide range of businesses, including airlines, hotels, and banks. Biden claims the changes he wants would “bring down costs for working Americans” and create “space for competition.”

The president is wrong on both scores. Ticketmaster, artists like Swift, and the venues that host concerts will not choose to make less money, and forcing companies to bundle costs will undermine competition in other parts of the market.