In an effort to combat touts who charge exorbitant prices, the UK government revealed on Friday that it would like to regulate the price of concert and event ticket resale.
A few months ago, the high price of certain tickets for the Britpop band Oasis’s reunion tour this year caused a great deal of public outrage, which prompted the ideas.
The ministry stated that it has noticed “a concerning increase in fans wanting to get tickets for popular tours and events coming up against professional touts hoarding tickets and reselling at heavily inflated prices” .
Others had been “caught out by a lack of transparency over the system of dynamic pricing,” which is a practice where official ticket vendors modify prices in response to demand, the press release noted.
Last August, rock and roll brothers Noel and Liam Gallagher announced their intention to put aside their differences and put Oasis back on the stage this summer.
While some tickets sold for thousands of pounds on unofficial resale sites, fans attempting to purchase tickets on official websites were met with dynamic pricing that caused costs to soar.
Tickets are frequently resold for up to six times their original price, according to the Labour administration of Prime Minister Keir Starmer.
In a statement, Business Minister Jonathan Reynolds stated, “From sporting events to Taylor Swift— all too frequently, major events have been plagued by customers being exploited by ticket touts.”
According to the government, a consultation will be held to gather opinions on restricting the quantity of tickets resellers can offer and capping resale prices at up to 30% of their original price.
It also called for evidence as to whether the current dynamic pricing system “provides sufficient protection from unfair practices”.
*
Email *
Website
