Hate The Added Fees On Tickets? Here's Why They Exist

Ticketmaster President Jared Smith joins Scott Soshnick, Eben Novy-Williams and Michael Barr to discuss a host of issues related to the business of sports. Ticketmaster handles about $30 billion in transaction value each year for over 425,000 events, with sports and concerts each accounting for about 40 percent of that business. Smith discusses pricing strategy for events, the role of the resale market, and the biggest pain point for ticket-buyers: the added fees. The group discusses Ticketmaster's new SafeTix program, being used in NFL stadiums across the country, and a recent request by two senators for an antitrust probe into the ticket industry. Back in 2010, the U.S. Department of Justice gave Ticketmaster a 10-year consent decree as part of its merger of Live Nation -- an agreement that expires next July, and its future is unclear.See omnystudio.com/listener for privacy information.