Ticketmaster is taking steps to remove resale tickets for Ontario events in order to adhere to a new provincial law that limits the price of such tickets to face value. Shabnum Durrani, a representative for the platform, mentioned that customers will have the opportunity to list their tickets again once the resale marketplace has been updated next week. Durrani emphasized Ticketmaster’s commitment to ensuring a fair and secure ticket marketplace in compliance with all relevant laws and regulations, noting that customers have been informed of the changes.
The decision follows the passage of a budget bill by the Ontario government, which included the introduction of a cap on resale ticket prices. This move was prompted by consumer complaints regarding resellers acquiring tickets for popular events, such as the World Series and Taylor Swift’s Eras tour, and reselling them at significantly inflated prices.
Recent amendments to the 2017 Ticket Sales Act were announced by the government last month, following the Premier’s pledge to review legislation after the issue of excessively priced World Series tickets in Toronto. Notably, the resale price cap will also apply to FIFA World Cup events in Toronto this summer, contrary to earlier expectations of an exemption.
StubHub and SeatGeek have expressed opposition to the price cap, with a StubHub spokesperson highlighting concerns about potential ticket fraud and its impact on fans. SeatGeek is currently reviewing the legislation and advocating for favorable outcomes for fans, despite uncertainties about compliance.
While some stakeholders believe the new law is a positive step, others, such as Richard Powers from the Rotman School of Business, raise concerns about the impact on reselling platforms like StubHub. Powers suggests that a service charge may be necessary to ensure the viability of such platforms under the new regulation.
Critics, including Jay Goldberg from the Consumer Choice Center, caution that the law could inadvertently strengthen the position of major companies like Ticketmaster. The effectiveness of the legislation is contingent on enforcement measures, with potential fines of $10,000 for non-compliance being considered as a deterrent.
In conclusion, the implementation and enforcement of the price cap on resale tickets in Ontario have sparked mixed reactions from industry players, consumers, and experts, highlighting the complexities of regulating the ticket resale market.