Recently, leading ticket sales company TicketMaster has decided to initiate their entrance into the secondary market of ticket sales. The secondary market is where tickets are resold for events that have sold out. This entrance into the has infuriated loyal customers who are tired of paying unnecessary hidden fees such as “service charges” and “convenience charges.” In the original sales of tickets through TicketMaster there are numerous hidden fees. The fees include “service charges,” “Building facility charges,” “Processing charges,” and “Shipping or Will Call charges.” In certain instances these hidden fees can add up to 75% of the tickets face value. As of 2008, TicketMaster acquired the company TicketsNow that was designed to resell tickets in the secondary market. TicketsNow also includes these “Hidden fees” when you purchase from their website. This arises the question as to whether it is fair for TicketMaster and TicketsNow to double their profits in sales of the primary and secondary ticket market. I believe this has initiated an enormous controversy, as TicketMaster and TicketsNow are a monopoly of the primary and secondary sales market. This leaves Tickets customers with no choice but to condone these extensive “service charges” that are costing up to an extra 75% of the original price. In spite of this ticket monopoly, I believe there needs to be a regulation enforced on how much money can be charged through “hidden fees” in both the primary and secondary market of ticket sales.
Resources: http://www.cbc.ca/marketplace/2009/new_home_nightmares/busted.html