Harry Potter casts a spell on Secondary Sellers.
I swear I didn’t have any insider information.
Last week, I blogged about a potential secondary-market killer and speculated that one of the shows that might be the first to take a hard line with the broker market might be that Wizard in the West End, Harry Potter.
The Producers of Potter (also known as the heir to the Hamilton throne) have announced that they will not accept re-sold tickets. Period. That’s right, buy a ticket from someone other than the primary seller, and Ticketus-Disappearus-Expeltion! You’re out!
While they haven’t taken the hard line that I suggested last week (and I’m not sure anyone will or anyone should), they have discovered a way to find out who is a primary market buyer and who isn’t, and as a result, they’ve been turning people away at the door. It feels to me like this is a (smart) scare tactic to all potential buyers. “Buy from the secondary market, and you could lose your money and be turned away from the show.” Who’s going to take that risk?
It takes a mega-hit to take this kind of hard-line. But it could change the way the markets operate for sure.
And here in this country, our own little mega-hit is fighting back at the secondary market as well. Earlier this week, Lin-Manuel Miranda and Chuck Schumer announced their collaboration on the BOTS Act, which would fine brokers for using technology to purchase tickets. I don’t see any reason why this won’t pass, although just like the Potter edict, this will also be hard to regulate. But with hefty $16,000 fees, it could be just enough to scare brokers from botting up all the tickets.
There’s a change in the air. And what I’m hoping is that it doesn’t destroy any market. Secondary sellers have gotten very good at a lot of things that Primary Sellers struggle with. Perhaps this war will end with a great truce that betters us both.
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