Live Nation CEO praises Trump executive order against 'exploitive ticket scalping'

Group 1 - The administration's executive order aims to combat price-gouging in the concert industry, which has been criticized for allowing scalpers to exploit consumers [3][6] - Live Nation Entertainment Inc., which owns TicketMaster, expressed support for the order, highlighting its potential to protect consumers and artists [1][2] - The live concert and entertainment industry supports 913,000 jobs and has a total economic impact of $132.6 billion, but faces challenges from unscrupulous middle-men [3] Group 2 - Live Nation reported that it blocks over 200 million bots daily, indicating a growing problem with ticket scalping [4] - The company has introduced Face Value Exchanges to allow fans to resell tickets at original prices, but calls for further reforms to address resale issues [4][5] - The Federal Trade Commission (FTC) has been instructed to enforce the Better Online Ticket Sales (BOTS) Act and ensure price transparency in the ticket-purchase process [6][8] Group 3 - The FTC has only enforced the BOTS Act twice since its enactment eight years ago, highlighting a lack of enforcement against scalpers [7] - In 180 days, the Treasury, Department of Justice, and FTC will report on actions taken and recommend further regulations to protect consumers [9]