The real question is, why is TicketMaster allowed to strongarm venues into essentially perpetuating its monopoly forever?
replies(5):
Ticket brokers are generally willing to take on the risk of buying up tickets to events on the primary market and constrain supply to turn a profit on the secondary market.
This works because TM and secondary platforms can claim ignorance and control the narrative: “we do our best to prevent bots”/“fans should be free to resell their tickets”
The only way around it is for the government to regulate prices, like they do in the UK (i.e. you can’t resell tickets for more than face value)
That means that TM/venues likely aren’t guaranteed as much profit, and ticket brokering businesses disappear, but both of those things are ultimately net negatives for consumers anyway.
I believe some states have tried that but it runs afoul of individual rights and first sale doctrine. Once I buy something, it's my property and I'm free to sell it for whatever price I can get.