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Summer events: Should price caps be introduced on ticket reselling to cut down on ticket touts?
Local TV
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16/04/2024
Critics say a price cap should be brought in to cut down on ticket touting - those buying tickets and selling them on at much higher prices.
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Transcript
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00:00
Should there be better restrictions on ticket reselling marketplaces?
00:05
As we head towards the summer months, your diary may be getting fuller.
00:09
We've got festivals like Glastonbury, Reading and Leeds and Creamfields,
00:12
sporting events like the Champions League Final, Wimbledon and the F1 Grand Prix,
00:16
and massive arena tours from the likes of Taylor Swift and Olivia Rodrigo,
00:20
all to hit the UK events calendar.
00:22
But the more popular an event is, the trickier it can be to get your hands on tickets.
00:26
And excitement for these once-in-a-lifetime events can lead to judgement going out the window.
00:31
When it comes to ticket reselling, there are successes and there are failures,
00:35
with scams and financial losses just as rife as the number of genuine tickets on the market.
00:40
Experts believe that regulation for these websites is the way to go.
00:43
Without it, you've no guarantee you'll secure authentic tickets via secondary sales,
00:48
leading to less support for venues to fill covers
00:49
and less revenue growth from ticket sales and on-site spending.
00:53
But critics say a price cap should be brought in to cut down on ticket touting,
00:57
those buying tickets and selling them on at a much higher price.
01:00
For platforms like SeatWave and ViaGogo, a cap would crush their business model.
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