Limiting Exclusive Ticketing Contracts to Boost Competition for Major Events.
This law aims to increase competition in the market for tickets to concerts and sporting events held at large venues (over 5,000 capacity). It prohibits primary ticketing companies from entering into exclusive contracts with venues if the duration is excessive, setting a minimum limit of more than four years. Citizens may benefit from more ticketing options and potentially lower fees due to increased market competition.
Key points
Prohibits long-term exclusive contracts for primary ticketing providers selling tickets for events at large venues (capacity 5,000+).
Exclusive contracts lasting longer than four years will be deemed excessive and illegal, forcing venues to seek new providers sooner.
The Federal Trade Commission (FTC) will enforce these rules, imposing penalties on companies that violate the duration limits.
Expired
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