Following Friday’s news that Ticketmaster was under investigation for its ticket reselling activities, Sen. Chuck Schumer has introduced legislation to stop resellers from snatching up tickets to sell on the secondary market before a concert is sold out. The law would ensure that fans get a chance to purchase good seats at face value, which they have not always been able to do before resellers buy these seats and jack up the prices.
Billboard: The legislation imposes a two-day waiting period from when tickets go on sale via an authorised sales channel before a ticket reseller can buy those tickets to put on the secondary market…The bill will also require ticket resellers to obtain a federal registration number from the FTC and will mandate that the resellers post that number in conjunction with all ticket resales on brokerage websites and through other means. This will help prevent fraudulent, anonymous sales. Venues may buy back tickets from ticket holders without obtaining a registration number. Finally, for enforcement purposes, the bill will require that all paper and e-tickets contain on their face the date and time of sale. Any falsification of this information will also violate the law.
The bill will be introduced when the Senate goes back in session in two weeks. Ticketmaster, however, is already on board with Schumer’s proposal:
“I am very happy to support Sen. Schumer’s thoughtful proposal and leadership on this issue,” says Irving Azoff, CEO of Ticketmaster Entertainment, Inc. in a prepared statement. “Ticketmaster recognises that the ticket resale industry needs far-reaching changes to better protect consumers and ensure fair access to tickets. Staggering the resale process to commence 48 hours after an on-sale is a very important step in reforming the process and bringing transparency to the on-sale process.”
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