A Massachusetts senator has proposed a bill to cap ticket resale prices at 110% of their original price. The bill, filed by Sen. Dylan Fernandes, aims to make tickets more affordable for consumers. Fernandes cited the high prices of tickets for concerts and sporting events, including a sold-out concert by singer-songwriter Noah Kahan at Fenway Park.
Proposal Details
The proposed bill would ban deceptive website addresses and imply that a venue or artist has endorsed the reseller without their written consent. It would also cap ticket resale prices at 110% of their original price. Vermont lawmakers passed a similar bill in May, which Kahan backed in a video sent to lawmakers.
Opponents of the bill argue that price caps can lead to higher rates of fraud and limit competition in the primary market. They say that price caps may steer customers away from safer secondary market vendors to unregulated markets where there is no guarantee a buyer will get their tickets or a refund if they don’t.
Consumer Groups Weigh In
Consumer groups say that lawmakers should focus on the root cause of high ticket prices: a lack of competition in the primary ticket market. They argue that the proposed bill does not address the underlying issue and may have unintended consequences.
Original reporting: NBC10 Boston — read the source article.
