Vermont caps ticket prices | Matt Connarton Unleashed

0:00 This relates to something we talked about on the show. I think a couple of weeks ago. Individual states are making laws about capping the resale value of tickets, and what that means is people who scalp tickets. So I don't mean just individuals. You know, like we've all seen. If you've been to concerts, you've all seen people outside, you know, trying to sell you a ticket sold out show. I can sell you a ticket for an exorbitant amount of money. But very often when we talk about this, we're talking about websites, resale websites where they buy tickets from Ticketmaster and then resell them, and it's a dirty business.

0:35 A ticketing business is a really dirty business. So we've talked about that a lot on the show over the years. But now you have individual states that are making laws about actually capping the price at which you can legally resell a ticket, which is going to hurt these resellers. But Vermont has now done this, and I'm actually surprised at how low the cap is. This is from Music Business Worldwide dot Com. Vermont caps ticket resale prices at one hundred ten percent of face value in law backed by Noah khan It says Vermont has signed into law a cap on the resale price of concert, entertainment and sporting event tickets.

1:11 Governor Phil Scott signed H five to one to two into law on Tuesday, May twenty six, capping resale prices at one hundred ten percent of a ticket's original face value. So that means, and again I'm not good at math, but if you are reselling a ticket, you can only market up ten percent, because one hundred and ten percent of its original face value means you can only market it up ten percent, which is not much of a profit, but that's literally how much you can mark up the ticket. The law also bans speculative ticket sales, where a reseller lists tickets they do not yet own, and prohibits secondary ticket exchanges from using deceptive URLs or falsely implying an affirmation with a venue or artist.

1:56 Vermont is the only US state to have enacted enforceable cap on ticket prices. So there you go. So Vermont is they're now the first ones to do that, but that is the beginning of a trend.