Ticketmaster has announced a promising partnership with CashorTrade aimed at enhancing face-value ticket resales. This initiative comes on the heels of proposed legislation in Ontario intended to cap ticket resale prices to their original value.
Ticketmaster and CashorTrade Partnership
Through this collaboration, verified Ticketmaster tickets can now be listed on CashorTrade, a fan-focused marketplace. This platform is dedicated to maintaining ticket prices at face value or lower, allowing fans to engage in resales without inflated costs.
Statement from Ticketmaster
David Marcus, the Executive Vice President of Music at Ticketmaster, emphasized the importance of this integration. “Fans deserve more ways to buy and sell tickets at the original price,” he stated. He mentioned that this partnership aims to enhance face-value resale options while aligning with artists’ preferences.
About CashorTrade
CashorTrade has built a strong reputation within the music touring community. Artists like Phish and Waxahatchee have utilized this platform, which promotes what they call the “face value movement.” This movement aims to eliminate price markups, ensuring that ticket transactions are fair and transparent.
Comments from CashorTrade
Brando Rich, co-founder and CEO of CashorTrade, remarked on the significance of this new integration. He noted, “What started in the parking lots as a fight for fairness has grown into something much bigger.” Rich highlighted the newfound freedom fans will have in buying and selling authenticated tickets at original prices.
How the Integration Works
- Tickets sold via CashorTrade will be verified through Ticketmaster.
- Buyers will receive newly issued tickets within the CashorTrade app.
- Sellers retain control over whom they sell to, but cannot list tickets above face value.
- This feature is currently available for select events, with more shows anticipated in the future.
Broader Context and Future Implications
This partnership builds on Ticketmaster’s existing Face Value Exchange launched in 2019. While it aims to offer more controlled resale options, Ticketmaster remains under scrutiny for its pricing practices. Fans will be closely monitoring this initiative to determine its actual impact on the ticket resale experience.
