The markets for secondary tickets have become popular in the contemporary ticketing industry. These markets involve the resale of the tickets acquired formally. However, the vendor has no official association with the league, the event or the team. The market for derivative tickets has now grown to become a 10 to 15 billion dollar market. This market offers great opportunities and challenges to the modern ticketing industry. The league, the team as well as the event managements can access more people who buy tickets in the markets of the secondary tickets.
Nevertheless, the main problems that are faced by these markets impact on the entire ticketing industry. An example of the problems of these markets is counterfeit vouchers sale. Business levels as well as the operations of events, teams and leagues are affected by these vouchers. Although the markets for secondary tickets bring opportunities, they also face challenges that requite urgent attention from different stakeholders.
The fraud tickets’ problem impacts on the credibility of the markets of the secondary tickets directly. The league management, event organizers and the teams are also affected indirectly since they are required to handle complaints that people who purchase fraudulent tickets raise. As such, the causes of this problem should be addressed by secondary markets in order to gain credibility and trust from the customers. Nevertheless, the markets for secondary tickets ought not to be removed from this business since their activities support the primary markets by enhancing their reach for more people. These markets also offer feedback in terms of performance and value of the primary markets. The markets for secondary tickets also assist event organizers and teams in determining the prices of the tickets by providing market information.
According to this study, the major problem is conflicting interests between the main stakeholders. The markets for secondary tickets offer great opportunities in the modern ticketing industry. Nevertheless, there are flaws in the market that impact on the industry performance and other major stakeholders including the league, event organizers and the teams.
The fans and the teams are the major stakeholders who are the beneficiaries of the services of the secondary markets. However, they also suffer more when there are malpractices in the secondary markets for the tickets. Fans lose money through fraudulent activities while the teams are blamed by the customers. Some fans may think that the team management was responsible for the fraud. This implies that the image of these teams will be affected negatively.
There are different techniques that can be used by the stakeholders in solving this problem. For instance, the distributors of the primary tickets can come up with non-transferable tickets. This way, it will be hard for people to transfer their tickets without appropriate confirmation and authorization. Tickets should include the identification number of the persons who buy them as well as their full names. In addition, unique computer chips will be included that will link the tickets to original buyers. In the event that there is a need to resell the tickets, then there will be reduced chances of reselling fraudulent tickets.
Another technique that the teams can use to solve this problem is developing and maintaining partnership relations
with distributors of secondary tickets. Teams are blamed the most by their fans when there are fraudulent tickets in the market. As such, they should implement such strategies to safeguard their image from the blame by the public. Additionally, such an arrangement will be beneficial to the markets for the secondary tickets as well since their personal relations with the buyers as well as with the teams will be on long term basis.
The final technique that can be used to solve this problem is implementing restrictions on the distributors of secondary tickets. Even league and event organizers have considered such a move. The move entails promoting tickets’ sale via the internet by the markets for primary tickets.
The markets for secondary tickets are important in this industry. Their operations entail handling luxury suits, season tickets and premium seating. These markets promote the teams’ interests by selling more tickets. As such, the markets for secondary tickets should not be eliminated. Partnership relationships between ticket distributors and the teams are the best solutions to this problem. Research indicates that the markets for secondary tickets allow for changing of tickets. This implies that many tickets would be wasted if these markets did not exist. Therefore, the team management ought to come up with policies for detecting and eliminating the distributors of fake tickets. This way, satisfaction will be ensured for all stakeholders and the entire industry will be streamlined.
My recommendation is that the event organizers, the league and the team appreciate the role of the secondary markets. They are prevalent and restricting them is not necessary because they bring more opportunities in the modern industry. As such, their operations should be coordinated and controlled in order to reduce fraud cases. Licensing all distributors of secondary tickets is one way of doing this by ensuring that all purchased tickets can only be resold by authorized distributors.
I would also recommend that the management create avenues via which buyers can resell tickets online. This way, sellers and buyers will have better opportunities since they will be able to choose whether to resell tickets or to engage services of the secondary markets.
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