Is it legal? Many jurisdictions in Canada have legislation forbidding ticket reselling, but low fines and sporadic enforcement mean that few scalpers are deterred. Your email address will not be published.
Life Insurance. Magazine Archive. Financial Planning. January Given what is happening on the macro side of the secondary market, with mega-brokers, billion dollar marketplaces, and sponsorships everywhere, many pundits in the live events space believe the days of the old-school ticket broker are coming to an end.
The participation numbers, however, show a different trend. There are over 10, small time ticket brokers out there trying to get an edge on the system every day.
These brokers still buy season tickets in bulk and sit on them, diversifying their portfolios by buying a number of different teams and looking to pay off the season with the biggest games, selling the down games for whatever they can get for them.
Completing orders and selling at a low cost helps brokers in their standing with some marketplaces. The adverse effect on the market caused a number of teams to take action to create a price floor and try to eliminate very low cost tickets.
They open up dozens of credit cards, join every fan club, use services which alert them to on-sales and special codes, and spend their entire day trying to beat the system by buying up tickets. The common fan, who wakes up and lines up on a Saturday with one or two credit cards and a tablet or two ready to buy tickets at on-sale, stand little chance against even the small brokers who have dozens of browsers and cards open and at the ready.
The lengths many of these brokers will go to seem extreme to the common fan, however, when done full-time, can yield lucrative results. They will fly to the city of the on-sale and stand in line knowing there are tickets on hold for those on-sales. They will hire day labor to stand in line with them as there is usually a 4 to 8 tickets per person limit. It really is a site to behold. Despite the terrible public perception, ticket brokering is a lucrative business for many where the top guys at the small firms are easily clearing six figures in net profit annually with some in the millions.
However, there are many occasions where the content themselves really do want their best fans to experience the event. High profile examples include:. Live events are more popular than ever and, for a myriad of reasons, brands are flocking to align with the event or performer through sponsorships and activation.
One of the more effective activations is the sponsorships credit card and payment companies execute to gain special access for their members. Companies like American Express and MasterCard afford their cardholders access to premium tickets and to pre-sales to live events through sponsorship deals with Live Nation, AEG, Major League Baseball, and many others.
If there is an angle, ticket brokers will take it. Brokers will open up numerous cards of all kinds to assure they have access to these pre-sales in bulk. When there is money to be made, however, and the cards held in the name of the business, it is well worth the time and energy for brokers to assail the offers.
Those participating are doing so to make a profit first. Whenever there is an opportunity for a profit in a capitalist marketplace, there will be those who jump at that opportunity. Pressures from fans, the content, and even politicians are helping the market make strides towards efficiency. As that occurs, the loopholes ticket brokers have been exposing will close. Technology can close many of these loopholes and it already exists.
Ticketmaster, Tickets. The issue is not the technology, however, it is where we are on the technology adoption life cycle for the fans. Trade Desk staff are aware their users harvest tickets using multiple Ticketmaster accounts, the sales executive said. Star and CBC reporters asked what happens if staff at Ticketmaster headquarters detect unusual activity in the purchasing patterns of a Trade Desk user, such as the use of bots.
Will they ask for information from the resale division? Reporters from the Star and CBC attended the ticket scalpers conference in Vegas undercover because media were not allowed into sessions where the collaboration between Ticketmaster and scalpers was to be discussed.
For months, Ticketmaster has declined interview requests to address these issues. After attending the conference, the Star and the CBC gave Ticketmaster an opportunity to review what their sales people had said and comment. They declined. In response to a detailed list of questions, the company provided a statement.
Ticketmaster has previously claimed to have stopped five billion purchase attempts by bots in alone. Reg Walker, a leading British expert on ticket scalping, questioned why Ticketmaster would make a program for scalpers.
That needs investigating by the authorities. In response, Prestige Entertainment West Inc. During a video conference this spring, another Trade Desk sales executive, speaking with Star and CBC reporters who posed as brokers, explained how Ticketmaster does not want to catch scalpers using multiple accounts.
Staff members are paid on commission, based on how active they are in providing advice to the members during a given week. Then he does research. Cardi B tickets: pretty good. Taylor Swift tickets: even better. Katy Perry tickets: hit a peak years ago—who is Katy Perry?
You have to look at analytics for past concerts, seeing how big the venue is, looking at predictions for their next album. It was a very hard ticket to get. A very in-demand concert. The ticket resellers of Discord came to the trade mostly from the ridiculously well - documented world of streetwear-and-sneaker resale, an industry notorious for the use of bots, which can enter an online sale and buy out coveted releases in less than a second—so far not illegal , as they are for tickets.
Anybody can buy any one of a number of bots online, which is why the field is so saturated. He asked for anonymity so as not to attract attention from any brands. Some make multiple accounts so that they can get around ticket limits. Also against the rules.
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