Hey!
You like secondary market analysis and ticket market analysis…so today, I look at the new bill in Florida that is aimed at ticketing in the Sunshine State.
What issues are you concerned with heading into 2024?
Let me know. So I can give you the best ideas and thinking on issues that will help you sell more tickets, get more fans, and have a stronger organization in 2024.
To the Tickets!
Florida legislators have recently introduced a bill that is aimed at ticketing in the state.
The key provisions:
- Elimination of “sole source” contracts with venues that have received public money in the last decade.
- A ban on preferred resale vendor requirements.
- A price transparency requirement.
Would this make much of a difference?
Let’s go one by one.
Elimination of “sole source” contracts:
I’m torn.
These “sole source” contracts have had the effect of dampening innovation, service, and flexibility.
On the other hand, does eliminating these types of contracts create some sort of wide open marketplace?
I doubt that as well.
The challenge that people are most concerned with is “ecosystem consolidation” and there are ways that the elimination of “sole source” contracts would just shift behavior and not change it.
Meaning: the challenge here is systemic and unless there is greater competition in all aspects of the ecosystem beyond ticketing to all of the ancillary services, you’ll still see an environment with skewed incentives.
No “Preferred Resale” requirements:
This would be the most helpful for customers.
I also know that this isn’t a “magic wand” solution either because even with competition in the secondary market, there is still room for nefarious incentives to be used to control behavior and limit distribution of inventory.
But this one would be helpful on the surface.
I just wonder about the unintended consequences.
Price Transparency:
In a way, we don’t see “all in” pricing in many places because when you buy something at the store, you never know what the price with tax is.
Again, price transparency and “junk fees” are two different things.
“All In Pricing” means that you’ll see the full price from the start.
It does not mean you’ll see lower prices.
In fact, I’d guess it will create an environment where you’ll see even higher prices.
People can make better decisions from the jump, but I don’t think it is a magic bullet that will lower prices.
You’ve made it this far, share this issue with someone that is wondering whether or not “exclusive” deals are causing all of tickets problems.
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