Sunday, June 29, 2008

Victimless Crime of "Ticket Scalping" Now Legal

Philadelphia -- As you might expect, scalping isn't a term used much anymore. The buzzword is "secondary ticket market," and all over the entertainment and sports industry, business is booming, turbo-charged by the technological advances of recent years.

Under a new 5-year revenue-sharing agreement between Major League Baseball and StubHub - where ticket-holders sell their tickets to buyers online - MLB is guaranteed $200 million over the five years and could make as much as $300 million.

The 25% profit on each ticket sale (15% from the seller and 10% from the buyer) is divided three ways, with a third to the club, a third to StubHub, and a third to Major League Baseball Advanced Media, which is the Internet subsidiary of Major League Baseball. The clubs had the choice of whether to be a part of the deal and only Boston chose not to participate.

Except for Boston, MLB teams now have links on their websites to StubHuB, see Philadelphia Phillies here.

HT: Ben Cunningham

3 Comments:

At 6/29/2008 11:09 AM, Blogger randian said...

This doesn't make scalping legal. You, an individual in the free market without a signed contract with MLB, can't buy MLB tickets and legally resell them.

 
At 6/29/2008 1:33 PM, Blogger OBloodyHell said...

I still want to know why ANY of these bastards deserve ANY cut of the action.

The MLB already got their cut when they sold the ticket. Ditto the clubs themselves.

And StubHub is performing a service for their cut, but please explain to me by what legal right they get to be the only legally allowed entity to perform this service ???

This is still crap.

Little by little, the pimps have taken over the world. They don't do anything. They don't make anything. They just stand there and take their cut.
- Jean Giraudoux -

and

There are makers, takers, and fakers, and right now, the latter two outnumber (and outvote) the makers by a large margin.


.

 
At 6/30/2008 11:03 AM, Anonymous alex said...

The problem would be solved if certain major league baseball teams would raise their ticket prices to their proper market values to begin with.

 

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