US senators introduce Unlock Ticketing Markets Act
The legislation would prevent the use of "excessively long" multi-year contracts between ticketing firms and venues
News By Lisa Henderson | 27 April 2023
US senators yesterday (26 April) introduced legislation intended to improve competition in live event ticketing markets.
The Unlock Ticketing Markets Act, sponsored by senators Richard Blumenthal and Amy Klobuchar, would allow the Federal Trade Commission to prevent the use of “excessively long” multi-year exclusive contracts that “lock out competitors, decrease incentives to innovate new services, and increase costs for fans”.
“Today’s primary ticketing market is dominated by one company that by some estimates has locked up 70 to 80% market share…
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