Ticketmaster has started removing resale tickets for Ontario events as per a new provincial law that limits the price of such tickets to their original value. The company’s representative, Shabnum Durrani, mentioned that customers can list their tickets again next week once the resale marketplace is updated. Durrani emphasized Ticketmaster’s commitment to ensuring a fair and secure ticket marketplace in compliance with all relevant laws and regulations, with customers being informed of the adjustments.
This action follows the passage of a budget bill by the Ontario government, which includes the price cap on resale tickets. The legislation received royal assent recently, addressing consumer grievances about resellers obtaining tickets for popular events like the World Series and Taylor Swift’s Eras tour and reselling them at significantly higher prices.
Changes to the 2017 Ticket Sales Act were unveiled by the government last month, prompted by the Premier’s promise to review legislation following the exorbitant resale prices witnessed in Toronto during the World Series. Despite previous opposition to price caps, StubHub expressed its intention to comply with the law, seeking further guidance from the province. Meanwhile, SeatGeek is assessing the legislation and aims to advocate for favorable outcomes for fans.
While some exceptions were expected, the resale cap will apply to FIFA World Cup events in Toronto as confirmed by the minister’s press secretary. The implementation of the price cap rule will be immediate, with the government planning to engage with ticket-selling entities to ensure compliance.
Concerns persist regarding the impact of price caps on fans and the ticket market. Critics argue that enforcing price controls may not reduce costs for fans and could potentially drive transactions towards unregulated platforms, leading to increased fraud rates. The new law is viewed as a positive step by some, but doubts linger regarding its effectiveness in practice, particularly concerning the viability of reselling platforms under the new regulations.
Overall, the effectiveness of the law in curbing reselling activities will depend on enforcement measures. While potential fines for non-compliance have been discussed, uncertainties remain regarding their deterrent effect. The evolving landscape of ticket resale regulation continues to draw scrutiny and debate from various stakeholders.
