In a move made by the UK Government, ticket reselling for live events is set to be banned in a bid to stop touts and resale sites from selling tickets to fans at massively inflated prices.
The news comes several months after Ticketmaster agreed to provide greater transparency in how tickets are priced and sold after tickets for this year’s Oasis tour were adjusted in real time through algorithmic dynamic pricing.
As reported by The Guardian, the proposed measures “could form part of next year’s King’s speech,” and that the publication understands that “reselling a ticket at anything more than the price at which it was originally bought will be banned.”
“Resale platforms will be allowed to charge fees on top of that price,” the publication goes on to say. In addition, resale platforms will also have a legal responsibility to monitor and impose the new regulations.
As told to the BBC, Housing Secretary Steve Reed said that stopping touts profiting from ticket sales is “an important issue” as it currently means fans are expected to “pay through the nose for tickets“.
The decision is set to be announced on Wednesday 19 November.
