U.S. Senator Charles E. Schumer has introduced legislation designed to crack down on ticket resellers and ensure that fans get the opportunity to obtain concert tickets at face price. The legislation would give fans two days to buy tickets before they became available to ticket resellers to sell on the secondary market. The legislation also requires resellers to obtain a federal registration number from the FTC, and post that number in conjunction with all ticket re-sales on brokerage websites and through other means. According to Schumer, Ticketmaster supports the proposed legislation and he plans to meet with Ticketmaster to draft a formal code of conduct for ticket reselling. The legislation will be introduced in two weeks when the Senate reconvenes.
“I am very happy to support Sen. Schumer’s thoughtful proposal and leadership on this issue,” says Irving Azoff, CEO of Ticketmaster Entertainment, Inc. “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.”
Category: Featured, Financial/Legal, Sales/Marketing, Touring
