Crackdown on Ticket Resale Practices
Ministers have announced plans to ban touts from grabbing tickets and reselling them at exorbitant prices. This move comes in response to incidents like the Oasis concert last summer, where fans were left reeling from skyrocketing resale prices.
Resale Price Cap and Licensing System
Business Secretary Jonathan Reynolds has confirmed measures to cap resale prices and potentially limit resales to the original ticket price. The aim is to prevent touts from profiting off scarcity and demand. Touts will also face restrictions on the number of tickets they can buy and will be required to obtain a license. Violators could be fined up to £5,000.
Fighting Against Exploitative Practices
The crackdown on ticket touts is part of a broader effort to protect consumers from unfair practices. The Competition and Markets Authority found that fans were fleeced of £350 million last year through ticket resales. The new legislation seeks to put an end to such exploitation and ensure a fairer ticketing system for fans, venues, and artists.
Support from the Music Industry
DJ Fatboy Slim praised the government's initiative, highlighting the importance of putting money back into fans' pockets rather than into the hands of resellers. The move has been welcomed by artists and fans alike, signaling a positive step towards a more transparent and equitable ticketing market.
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