Wednesday, April 8, 2009

New Ticket Resell Law Proposed

From "Senator Charles E. Schumer has introduced legislation to specifically target ticket scalping as well as ticket resellers like TicketNow. The bill would require a two-day waiting period from when tickets go on sale before a ticket reseller can buy those tickets to put on the secondary market,

The purpose of the bill is to enable fans to get tickets at face value before ticket resellers (like the Ticketmaster-owned TicketsNow) can set up auctions to increase the price of those tickets. The issue was brought to the forefront by Bruce Springsteen and U2 but many bands have seen tickets selling for very significant amounts. When the Mighty Mighty Bosstones reunited in 2007, the band saw tickets for their shows selling for as much as $1250.00."

Check out a more in-depth article about it here.

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