Trump's Concert Ticket Sales Executive Order Targeting Unfair Scalping: Everything You Need to Know
Trump signed the order on March 31, joined by Kid Rock in the Oval Office.
President Donald Trump has signed a new executive order targeting the ticket scalping market.
The order, signed on March 31, targets ticket scalping practices as well as protecting consumers from inflated trickle prices. Trump's executive order also places and emphasis on transparency in the concert ticketing process.
The order includes price transparency on secondary ticket marketing and taking action against "unfair, deceptive and anti-competitive conduct" in the secondary market, according to Fox News.
The order aims at addressing any and all anti-competitive behaviors by sectors of the entertainment industry such as venues and ticketing agents that may result in harm to the fans or the artist.
The ensure enforcement of the laws, the Federal Trade Commission has been instructed to enforce the Better Online Ticket Sales (BOTS) Act of 2016. This act prevented bots from purchasing bulk tickets to events, according to The White House.
The progress of the order will be monitored for 180 days. After that, the Treasury Secretary, Attorney General and FTC Chairman will create a report on progress, as well as what other actions may need to be taken at this time to ensure its total effectiveness.
The ticket sales industry has been the subject of scrutiny and criticism in recent years.
Taylor Swift's "Eras Tour" caused a Ticketmaster meltdown, due to the high demand of ticket "bots," leaving many of Swift's fans without tickets. Those tickets then hit the re-sale market for thousands of dollars. The incredible premiums sparked congressional hearings over Ticketmaster's control of the ticket sales industry.
Recently, stolen tickets from Swift's "Eras Tour" were sold for $635,000 in a cybercrime scheme.
Similarly, K-pop band BTS faced issues when it came to scalpers buying tickets and selling them at an inflated price. This notably occurred on their "Permission to Dance" tour when prices were around $150-$200 but were being re-sold for up to $7,000.
Originally published on Music Times
