'Taylor Swift Act' and other efforts target sky-high concert ticket prices [Yahoo! Finance]
Live Nation Entertainment, Inc. (LYV)
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Source: Yahoo! Finance
lawmakers to take aim at sales practices that they say are deceptive or predatory to music fans. A main goal of venues and musicians is to outlaw speculative sales when a seller offers a ticket they do not yet have. In some cases, they ask thousands of dollars for a ticket that they can buy later from the primary seller for $200 or less and reap the profit. In Maryland, a new law will make speculative ticket sales illegal starting July 1. "This is a huge first step," said Audrey Fix Schaefer, communications director for I.M.P., the company that operates Maryland's Merriweather Post Pavilion and other venues that often receive complaints if consumers pay high prices or fail to receive promised tickets. Arizona recently cleared similar legislation and nicknamed the measure the "Taylor Swift Act." When fans were unable to snag Eras Tour tickets through Ticketmaster, many paid thousands to buy them through resellers, also known as secondary sellers, or were tricked by sites sellin
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