The UK government is outlawing reselling tickets for profit in a dramatic crackdown that will ban touts and ordinary consumers from charging anything more than the price they originally paid, ending a practice that has been estimated to cost fans $191 million annually. The decision, announced this week, comes after dozens of world renowned artists including Radiohead, Dua Lipa, and Coldplay issued an open plea to Prime Minister Keir Starmer to stop “pernicious” touts who have been exploiting fans with astronomical markups. Under the new law, which could form part of next year’s King’s speech, resale platforms like Viagogo and StubHub will be allowed to charge service fees on top of the face value price, but those extras will be limited to prevent artificial inflation that offsets profits lost from the ban.
The crackdown targets the egregious pricing that saw Oasis tickets for Wembley Stadium listed for $5,878 on Viagogo, Coldplay tickets for $1077 on StubHub, and in the most extreme case, a ticket for All Points East festival listed for an eye watering $151,752. A Guardian investigation found hundreds of tickets being sold by professional traders, including three UK touts listing dozens of Oasis tickets for a combined $34,000, while one Cyprus based business advertised 1,596 tickets through StubHub alone for the Oasis reunion tour. The legislation will be enforced by the Competition and Markets Authority, with resale platforms held legally liable if sellers using their site don’t comply with the law, and will govern social media sites to prevent unregulated and potentially fraudulent ticket sales. While secondary ticketing companies claim the ban will lead to increased illicit markets and fraud, face value ticket resale sites like Twickets have already sprung up to offer alternatives, and shares in US listed StubHub Holdings dropped 10% after reports of the ban emerged, proving that the days of touts making huge sums by hoovering up tickets at fans’ expense are finally coming to an end.
