Amid the frenzy of Taylor Swift's The Eras Tour coming to Canada, the ticket resale market is buzzing with action, and some resellers have already listed tickets for purchase as fans grapple for a chance to see the singer perform.
Tickets to certain dates of Swift's six shows in Toronto became available Friday, however, the price of some resale tickets are close to an eye-popping $20,000. Catherine Moore, professor of music technology and digital media at the University of Toronto, told CTV’s Your Morning on Friday the resale market is a place where those who have tickets can sell and those who do not have tickets can buy."I think some of these sites were created so that if someone bought a ticket, and for whatever reason wasn't able to go, they didn't just lose their money. But it's because so commercial," said Moore.
"One is the actual ticket price. These days because of the secondary market, face value doesn't really mean anything. It's only the value for a very short amount of time," said Moore. "I think where people would appreciate more transparency is where does the money go from the surcharges on, for instance, that $2,800 ticket? Often the surcharges are a percentage of what that ticket costs so that's creating a pool of money that will get distributed," explained Moore.