Prohibits sale of tickets not in reseller's possession.
Impact
If enacted, S519 will significantly impact how ticket reselling operates in New Jersey. By banning speculative ticket sales, the bill seeks to eliminate risks for buyers regarding the validity and availability of tickets purchased. Resellers will be held to stricter requirements, including guaranteeing refunds for cancellations or invalid tickets, thus promoting fair trading practices. The proposed changes may lead to a better regulated market that consumers can trust, directly influencing the local entertainment industry and how tickets are sold for events in the state.
Summary
Senate Bill S519 aims to amend current New Jersey law regarding the reselling of tickets by prohibiting the sale of tickets that are not in the reseller's possession at the time of sale. This legislation specifically targets the practice known as 'speculative ticketing,' where resellers would sell tickets they do not currently own, potentially causing confusion or financial loss for consumers. The bill intends to enhance consumer protection in the ticket resale market by ensuring that all transactions are transparent and secure for purchasers.
Contention
While proponents of the bill highlight the necessity for consumer protection and fair practices in the ticket resale market, opposition might arise from resellers and ticketing platforms who could view the restrictions as impeditive to their business model. The bill's limitations on resellers’ abilities to sell tickets they do not possess could provoke discussions on market freedom and business rights. Stakeholders in the ticketing industry may argue about the implications for ticket availability and pricing, fearing that such regulations could suppress a competitive market or lead to a decline in ticket sales for certain events.
Enacts into law components of legislation that relate to live event ticket sales; establishes an annual professional reseller renewal fee; requires professional ticket resellers to provide their New York state ticket reseller license number as a condition of utilizing an online resale marketplace to resell tickets (Part A); provides criteria for when a purchaser may obtain a full refund of the amount paid for a ticket (Part B); relates to resale requirements for tickets; requires that if a licensee or other ticket reseller doesn't have possession of the ticket, then they shall have a written contract to obtain the offered ticket at a certain price from a person or entity in possession of the ticket or from a person or entity who has a contractual right to obtain such ticket, and tickets to the event have been placed on sale by the venue or entity hosting the event or its authorized agent before the licensee or reseller can advertise the sale of the tickets (Part C); relates to unlawful charges in connection with tickets; permits reasonable charges for costs actually rendered or otherwise in connection to customer support, technological and software infrastructure, and actual operational costs for sales away from the box office; defines terms (Part D); relates to the availability of tickets for sale to the general public; defines a term (Part E); relates to the resale of tickets included in a subscription or season ticket package (Part F); extends the effectiveness of certain provisions relating to tickets to places of entertainment (Part G).
Enacts into law components of legislation that relate to live event ticket sales; establishes an annual professional reseller renewal fee; requires professional ticket resellers to provide their New York state ticket reseller license number as a condition of utilizing an online resale marketplace to resell tickets (Part A); provides criteria for when a purchaser may obtain a full refund of the amount paid for a ticket (Part B); relates to resale requirements for tickets; requires that if a licensee or other ticket reseller doesn't have possession of the ticket, then they shall have a written contract to obtain the offered ticket at a certain price from a person or entity in possession of the ticket or from a person or entity who has a contractual right to obtain such ticket, and tickets to the event have been placed on sale by the venue or entity hosting the event or its authorized agent before the licensee or reseller can advertise the sale of the tickets (Part C); relates to unlawful charges in connection with tickets; permits reasonable charges for costs actually rendered or otherwise in connection to customer support, technological and software infrastructure, and actual operational costs for sales away from the box office; defines terms (Part D); relates to the availability of tickets for sale to the general public; defines a term (Part E); relates to the resale of tickets included in a subscription or season ticket package (Part F); extends the effectiveness of certain provisions relating to tickets to places of entertainment (Part G).