Ticketmaster is now removing resale tickets for Ontario events as part of a new provincial law limiting such tickets’ prices to face value. A spokesperson for the platform, Shabnum Durrani, mentioned that customers can relist their tickets once the resale marketplace is updated next week. Durrani emphasized Ticketmaster’s commitment to a fair and compliant ticket marketplace for all, informing customers about the adjustments.
This action follows the Ontario government’s passing of a budget bill, which included the resale ticket price cap. The bill received royal assent recently. This measure addresses consumer grievances regarding resellers acquiring tickets for 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 announced by the government last month, prompted by the Premier’s vow to review legislation due to the exorbitant resale prices of World Series tickets in Toronto last year. Despite initial opposition, the law now applies to all events, including the upcoming FIFA World Cup in Toronto.
StubHub and SeatGeek, two major resale platforms, expressed concerns about the price cap. While intending to comply, they seek further guidance from the province. StubHub emphasized the potential risks of price caps leading to increased ticket fraud, shifting transactions to unregulated platforms. SeatGeek is reviewing the legislation to advocate for favorable outcomes for fans.
The new law has received mixed reactions. While some view it positively as a step towards fairness and accessibility, others, like Rotman School of Business professor Richard Powers, raise concerns about the impact on resale platforms’ viability. The effectiveness of the law will depend on enforcement and potential fines for non-compliance, with varying opinions on its future success.