California Bill Aiming to Cap Concert Ticket Resale Prices Fails
AB 1720, also known as the California Fans First Act, would have capped concert tickets resale prices to no more than 10 percent of face value
The failure of California's AB 1720, or the California Fans First Act, is a significant development in the concert ticketing industry. This bill aimed to cap concert ticket resale prices at no more than 10 percent of the face value, a move that would have greatly benefited fans who often find themselves paying exorbitant prices for tickets on the secondary market. The bill's demise is a win for ticket resale companies, which have long argued that such regulations would harm the market.
The concert ticketing industry has been under scrutiny in recent years, with many artists, fans, and lawmakers criticizing the opaque and often predatory practices of ticket resale companies. The rise of online marketplaces like StubHub, Vivid Seats, and Ticketmaster's own resale platform has made it easier for tickets to be bought and sold, but also led to widespread price gouging. While some cities and states have implemented regulations aimed at curbing these practices, a federal solution has yet to materialize.
As the concert season heats up, fans will continue to face high prices on the resale market. What's next to watch is whether other states will follow in California's footsteps and introduce their own legislation aimed at regulating ticket resale prices. Additionally, the National Association of Ticket Brokers, a trade group representing ticket resale companies, is likely to continue lobbying against stricter regulations, making this a contentious issue that will continue to play out in the industry.
Originally reported by rollingstone.com. NewsAbroad adds analysis for culture, style & media readers.