Ticketmaster has started removing resale tickets for Ontario events to adhere to a new provincial law that limits the price of such tickets to their original face value. Shabnum Durrani, a spokesperson for the platform, mentioned that customers will have the opportunity to relist their tickets next week once the resale marketplace is updated. Durrani emphasized Ticketmaster’s dedication to establishing a fair and secure ticket marketplace in accordance with all relevant laws and regulations. The recent action was prompted by the passing of Ontario’s budget bill, which included the imposition of a cap on resale ticket prices following consumer grievances about inflated prices for tickets to popular events like the World Series and Taylor Swift’s Eras tour.
The amendments to the 2017 Ticket Sales Act were unveiled by the government last month after Premier Doug Ford vowed to review legislation due to the exorbitant resale prices of World Series tickets in Toronto. Despite initial opposition, StubHub and SeatGeek have expressed intentions to comply with the law. StubHub highlighted concerns about potential ticket fraud resulting from price caps, while SeatGeek is examining the legislation to advocate for favorable outcomes for fans. Concerns persist regarding the impact of price caps on fan experience, with some experts questioning the sustainability of reselling platforms under the new regulations.
Vass Bednar from the Canadian SHIELD Institute views the new law as a positive step towards making ticket access more predictable and accessible, although uncertainties remain about its practical implications. On the other hand, Richard Powers from the Rotman School of Business raised concerns about the viability of reselling platforms without the ability to generate revenue from resales. The effectiveness of the law will rely heavily on enforcement measures, with potential fines for non-compliance being considered as a deterrent. However, the ultimate impact of the law on the ticket resale market’s dynamics remains to be seen.
