Governor Andrew Cuomo (D-NY) extended New York’s current ticket sales legislation for a one-year period but in a press release indicated he would not do so again past the law’s expiration date of June 30, 2017. The governor’s statement indicated his office has formed a working group of “advocates, regulators, and industry representatives” to study the matter and report recommendations prior to the renewal date of June 2017.
In January 2016, New York’s Attorney General Eric T. Schneiderman released findings of an investigation of the consumer abuses found within the ticket industry. In a report titled Obstructed View: What’s Blocking New Yorkers from Getting Tickets, the attorney general’s office wrote “ticketing is a fixed game” and found that when tickets are released for sale “over half of the available tickets are put on “hold” (16%) or reserved for industry insiders and pre-sale promotions (38%), such as marketing promotions utilized by credit card companies as incentives for customers.
The report found that brokers utilizing “illegal” software or ticket bots are able to purchase “60 percent of the most desirable tickets for some shows”.
These purchase practices result in a markup of the ticket’s face value of between an average of 49% to 1,000%.