Coldplay Ticketing Chaos Sparks Legal Action

A Deep Dive into the Coldplay Ticket Sales Fiasco and Its Impact on Fans
October 2, 2024
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Coldplay's recent ticket sale controversy in India has left fans outraged and authorities investigating. The rapid sell-out and exorbitant resale prices have sparked allegations of fraud and misuse of bots.

Ticket Sale Chaos and Immediate Aftermath

Coldplay announced three concerts in Mumbai as part of their "Music Of The Spheres" tour, causing a massive rush for tickets. The official vendor's site, BookMyShow (BMS), faced severe technical issues, resulting in thousands of fans being locked out and tickets quickly selling out.

Scalping and Legal Implications

Tickets reappeared on resale platforms at astronomical prices, prompting suspicions of scalping and fraudulent activities. Legal actions are underway, with complaints filed against the ticket vendor and a police investigation initiated.

  • Allegations of Fraud: Fans suspect the use of bots to purchase tickets in bulk.
  • Legal Complaints: A lawyer, Amit Vyas, filed a complaint alleging the online ticketing platform facilitated scalping.
  • CEO Summoned: Mumbai police's Economic Offences Wing summoned Ashish Hemjarani, CEO of BookMyShow, for questioning.

Impact on Fans and Broader Ticketing Issues

Many fans expressed disappointment and frustration over the inability to secure tickets, leading some to seek alternatives in other countries. This incident highlights a recurring global issue with concert ticket sales, where fans often face challenges due to high demand and questionable resale practices.

Arkatapa Basu, a journalist, shared her experience of being 130,000 in line, only to find 700,000 ahead of her for a newly added show, leading her to give up. Similarly, Ishaan Jhamb, an engineering student, found tickets in Abu Dhabi more economical than the exorbitant resale prices in Mumbai.

This episode underscores the need for better regulations and systems to ensure fair access to tickets and protect fans from price gouging and fraud.

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Take this catalog featuring songs by Coldplay for instance. The investor acquired this catalog for $27,300 and collected $16,910 in royalties over 46 months, achieving an impressive ROI of 23.00% after they sold it to another buyer on the platform for $17,800. Song royalty acquisitions can be extremely lucrative investments as you can see from this example. Song royalties by legendary bands like Coldplay are a collector's item as well. Just as people collect sports cards, artifacts, and other items, owning a piece of music history is priceless.

This live listing featuring songs by Coldplay is now available for investment. This catalog has earned $10,130 over the past 12 months and is currently valued at $19,154. Any future buyer of this catalog will continue to receive royalty payments from these songs until September 2029 as the original deal was a 10 year license. Sign up today and place your bid before another investor secures this exciting asset for their portfolio. Invest in music today and reap the benefits of earning passive income from music rights whose value is independent of macroeconomic markets.

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