The UK government has announced plans to introduce legislation to cap the price of resale tickets to tackle advertising.
ADVERTISEMENTTicket advertising has come under intense scrutiny in the UK after sell-out events for artists such as Coldplay and Taylor Swift saw tickets resold on secondary market sites at hugely inflated prices.
Eras Tour tickets for Taylor Swift were quickly jumped when they went on sale ahead of dates in the UK last summer only for many tickets to immediately reappear on resale sites for thousands of pounds.
A UK government public consultation will determine the best way to tackle this problem. A price cap will most likely be added to resale tickets, ranging from face value to 30% above the original price.
Currently, the average ticket sold on secondary markets sells for over 50% more than the original price, according to analysis by the Competition and Markets Agency (CMA), the UK’s competition regulator.
There will also be a limit on the number of tickets a seller can sell, probably set at the maximum number the original seller can buy at one time. The intention is to stop the mass buying of tickets to then resell them, even at a lower inflated price.
The government has also announced that it has opened a call for evidence on dynamic pricing, following the scandal surrounding the first edition of Oasis 2025 tickets last summer.
Because of dynamic pricingmany Oasis tickets with face values ​​of £150 (€180) were sold for more than £350 (€420) through the official retailer.
Both the CMA and the Irish Competition and Consumer Commission have opened investigations into Oasis’s use of dynamic pricing.
“We are taking action to strengthen consumer protection, prevent fans from being ripped off and ensure money spent on tickets goes back into our incredible live events sector, rather than into the pockets of greedy fans,” UK culture secretary Lisa Nandy told reporters.
Oasis’ upcoming tour has also attempted to address ticket sales. Warning fans that tickets can only be resold through their official partner Twickets, Ticketmaster parent company LiveNation has confirmed it will cancel more than 50,000 tickets sales through unofficial secondary sites.
According to the BBC, some of the tickets listed on these secondary sites for the upcoming Oasis tour were selling for as much as £119,000 (€143,000).
Regarding the government’s consultation, major ticketing site Viagogo said it “looks forward to fully responding to the consultation and asking for evidence on improving consumer protection in the ticketing market”.
