Former Music Executive Praises Trump's Executive Order on Ticket Scalping

Executive Order on Ticket Scalping

• 🎯 The executive order aims to combat ticket scalping and the inflation of ticket prices, particularly for major musical acts.
• 💡 Seth Schachner, former music executive, calls the order potentially one of the most helpful things seen to improve the ticket situation for consumers.
• ⚠️ The order may address issues like speculative ticket sellers who sell tickets they do not possess.

Pervasiveness of the Problem

• 📈 Ticket scalping is a widely pervasive problem, most extreme for artists like Beyonce, Taylor Swift, and Springsteen.
• 🚫 A federal law, the Bots Act, has been on the books for nine years but has seen little to no enforcement, contributing to the problem.
• 🤖 Bots can flood the system with requests, as seen with Live Nation receiving billions of bot requests for Taylor Swift tickets.

Impact on Artists and Fans

• 🎟️ The resale market typically does not benefit artists, with profits going to ticket resellers.
• 💰 Artists set ticket prices with management, needing to consider market demand and the high prices some consumers are willing to pay.
• 💸 With streaming revenue declining, artists rely more on tour income, making ticket pricing and sales crucial for their business.
• 🥊 Artists may view Ticketmaster as a