The UK government is set to implement a ban on the resale of tickets for live events at inflated prices, aiming to combat ticket touts and resale platforms that charge above face value for tickets to concerts, theatre shows, and sports events. This initiative aligns with the Labour government’s election commitments, responding to concerns raised by fans about exorbitant resale prices.
The planned measures come following a notable letter from several high-profile artists, including Dua Lipa and Coldplay, advocating for fan protection against exploitative practices. The government’s consultation on this matter considered capping resale prices at 30% above the original ticket cost but ultimately decided to prohibit reselling above the original price entirely. Additional regulations are expected to restrict excessive fees associated with ticket sales.
The Department for Culture, Media and Sport (DCMS) indicated that these changes aim to curb large-scale ticket touting operations, which often utilize automated systems to purchase tickets en masse before reselling them at inflated costs. The DCMS believes the new regulations could lower average resale ticket prices by around £37, saving fans an estimated £112 million annually.
Resale platforms will be legally required to enforce these new rules, as the government emphasizes the need to protect consumers from unfair practices that have harmed the live events sector. However, some ticket resale services have expressed concerns that implementing a price cap may redirect consumers to unregulated markets, increasing their exposure to fraudulent activities.
The proposed legislation seeks to address the problematic resale market while considering the broader implications for both fans and the music industry, valued at £8 billion in the UK economy. The relationship between artists, fans, and the resale market remains a complex issue under scrutiny.
Source: https://www.bbc.com/news/articles/c77z2l3yzl8o?at_medium=RSS&at_campaign=rss