Urges Congress to respond to consolidation of ticket sale industry.
Impact
The resolution highlights that the live entertainment sector makes a significant economic contribution, with New Jersey accounting for a considerable portion of that revenue. However, the practices of these market leaders have led to consumer frustration as ticket prices rise drastically due to hidden fees and inflated resale prices. Additionally, the resolution points out that independent artists and venues suffer financially due to the monopolistic practices of these ticketing giants, which can result in reduced wages and limited control over ticket sales.
Summary
Assembly Resolution No. 179, introduced in New Jersey, urges Congress to address the consolidation within the ticket sales industry, specifically targeting the dominant positions of major companies like Live Nation and Ticketmaster. This resolution arises amid growing concerns about the practices of these companies, which together control approximately 70% of the ticketing market for live events. The consolidation has sparked complaints about excessive fees, surge pricing, and a lack of transparency that negatively impacts both consumers and performers alike.
Contention
Debate surrounding AR179 centers on the need for regulatory action to rectify the adverse effects of market consolidation. Supporters argue that Congressional intervention is necessary to protect consumer interests and ensure fair pricing practices, while opponents may question the extent of government involvement in private industry affairs. The resolution serves as a call to action, emphasizing that significant changes are required to foster a fair and transparent ticketing environment for events in New Jersey and beyond.
Urges U.S. President and Congress to enact legislation comparable to "Eviction Crisis Act of 2019" and "Family Stability and Opportunity Vouchers Act of 2019."