""That's insane," said California Assemblymember Matt Haney (D-San Francisco), who has introduced AB 1720, the California Fans First Act, to combat extortionate ticket re-selling. Haney's bill would ban re-selling tickets at more than 10 percent above face value in California."
""We've allowed live events including Coachella to be dominated by speculators who aren't fans, but who simply want to profit off these events," he continued. "They didn't contribute to Coachella, they don't play an instrument. They're using events as a way to screw over fans and jack up prices.""
""We've got to break up [Live Nation's] monopoly, but there is a problem with the secondary market and the ways we've allowed scalpers to crowd out fans.""
Coachella's sold-out tickets are reselling for $4,000 to $5,000, far exceeding the original price of $649. California Assemblymember Matt Haney introduced AB 1720 to limit ticket resale prices to 10% above face value. This legislation aims to combat the exploitation of fans by speculators. The Department of Justice's recent settlement with Live Nation has raised concerns about the ticket market's fairness. Coachella's high secondary market prices illustrate the challenges fans face in accessing live events without being overcharged by scalpers.
Read at Los Angeles Times
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