YellowHeart, a new ticketing platform backed by The Chainsmokers, aims to put a leash on ticket scalping with benefits for both artists and fans.
The company, which calls itself the first "socially responsible" live events ticketing platform, was founded by CEO Josh Katz alongside partners The Chainsmokers' Alex Pall and Drew Taggart, and Adam Alpert, who is CEO at Disruptor Records and also The Chainsmokers' manager.
Ticket scalping has long been a menace for both ripped-off fans and artists, who don't share in profits from the marked-up tickets anyway. But YellowHeart doesn't try to get rid of scalping completely. Instead, artists on the platform govern how their tickets are sold and resold, with options like setting a price ceiling for resold tickets and choosing who profits from the resale.