NFL OWNERS TO VOTE ON ENDING TICKETMASTER’S SECONDARY TICKET MARKET MONOPOLY
NFL owners will meet today and vote on Ticketmaster’s (LYV) exclusive control of the league’s secondary ticket market, which runs through the 2018 season. Should owners vote to end the ticket sales and distribution company’s exclusive reign, teams would have the option to select their own ticketing partners. Ticketmaster would remain the league’s preferred primary provider, with incentives to utilize the platform, but teams would be given the freedom to choose their “official secondary” partner.
Howie Long-Short: Increased distribution leads to greater competition and ultimately lower prices. Ticket Club, a platform that combines spec selling with a no-fee subscription model, estimates that fans saved $20 million on 2016 Super Bowl tickets using secondary markets; as opposed to NFL on Location, the league’s primary market vendor. Here is to hoping NFL owners vote in the best interests of the fans and provide us with a true open market.
Fan Marino: Last week a couple of Minnesota Timberwolves season-ticket holders filed a breach of contract lawsuit against the team for switching to a mobile ticketing system that “fundamentally, and unlawfully, alters the way ticket holders may use and transfer tickets”. The Wolves want fans to exclusively use Flash Seats (owned by Cavs owner Dan Gilbert), sell their tickets for at least 75% of the face value and transfer the seats using the application. Those restrictions create a lose-lose proposition. Fans are unable to unload tickets; the seat sits empty which hurts the crowd atmosphere and the team loses out on potential in-stadium revenue.