WASHINGTON, Oct. 30 /PRNewswire-USNewswire/ -- Following many media
reports that ticket brokers caused the scarcity of Hannah Montana tickets,
the National Association of Ticket Brokers (NATB) (http://www.natb.org)
today issued the following statement:
"Whenever tickets to premium events sell out too fast or the ticket
price is too high, ticket brokers become an easy target of public scorn.
Due to misreported facts about recent events such as the Hannah Montana
concert tour, the public needs to be made aware of how tickets actually go
on sale and how many tickets are actually available for sale. Recent,
inaccurate press reports lead the public to believe that brokers control
the market for premium events. This is simply not true. You need to look at
how many tickets an arena actually holds for a concert or sporting event
and how many of these tickets actually went on sale to the general public.
Ticket brokers are no different from stock brokers -- they buy and sell
tickets every day. When the phone rings at a broker's office, someone is
either selling a ticket or wants to buy one. The prices are set by the
market and not by the brokers. Most importantly, the media is primarily
isolating this to one event, the Hannah Montana tour. Ticket brokers take
risks every day when buying and selling tickets. Unbeknownst to most, many
times the market goes in the opposite direction. Every day of the week our
members are selling tickets below face value for some event."
The following are some basic facts consumers should be aware of:
-- During the Hannah Montana tour, many of the tickets were not made
available to the general public. For example, the Hannah Montana concert in
Kansas City was held at the Sprint Center which has a total capacity of
18,500 seats. Yet, published reports stated that only 11,000 seats were
available for the concert, of which a mere 4,000 were sold to the public.
The reason for this is that prior to the public sale there was a fan club
sale. Additionally, many Hannah Montana seats in the front half of the
orchestra for other concerts have been auctioned off by Ticketmaster with
some tickets selling for over $800 on Ticketmaster's secondary market
exchange -- TicketExchange.
-- This type of act could sell out large stadiums and the shows were
held in small arenas, driving a fan frenzy marketplace. It's simple
economics -- the law of supply and demand -- and it applies to every
business not just tickets.
-- Demand for the concert has been so high that complaints over a lack
of available seats prompted Missouri State Attorney General Jay Nixon to
reach a "fair settlement" with Ticketmaster to release an additional 2,000
tickets for the October 23 concert to the general public -- to a show which
Ticketmaster claimed was sold out.
-- NATB has always advocated that teams, promoters, and
facilities/venue service providers accurately disclose how many tickets are
-- When the law of supply and demand dictates the price of tickets,
consumers reselling their tickets on the Internet are a contributing factor
for what the market prices are.
-- Ticketmaster, a primary market ticket seller, actively encourages
consumers to buy and then sell their tickets on Ticketmaster's secondary
-- NATB requires its member brokers to adhere to a strict code of
professional ethics and consumer protection, including a comprehensive
consumer grievance system. NATB's Code of Ethics can be found at:
-- NATB member brokers offer consumers a unique, 200% guarantee if
purchased tickets are not delivered as promised.
The National Association of Ticket Brokers (NATB) was formed in 1994 by
a group of leading ticket brokers, involved in the sale of sports, concerts
and theater admission tickets, for the purpose of establishing an
industry-wide standard of conduct and to create ethical rules and
procedures to educate the public concerning ticket-brokering services and
to serve the primary goal of the NATB, promoting consumer protection. All
members of the NATB are dedicated to the principle of assuring the public
that dealings with NATB members are conducted with integrity, reliability
and convenience. To this end, the NATB has created procedures that permit
the public to report improper and unethical conduct by ticket brokers, and
to disseminate consumer protection warnings and guidelines. Through
self-governance, the NATB has provided many enhanced protections for
ticket-buying consumers. The NATB has worked with law enforcement agencies
across the country, state and federal legislators and the NFL and other
professional sports leagues and teams, to accomplish these goals, and has
been vital in the NFL's fight against counterfeit and stolen tickets. More
information about the NATB is available at http://www.natb.org.
SOURCE National Association of Ticket Brokers