financetom
Business
financetom
/
Business
/
UK targets ticket resellers with new rules to protect fans
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
UK targets ticket resellers with new rules to protect fans
Jan 9, 2025 4:36 PM

LONDON, Jan 10 (Reuters) - Britain on Friday said it

wanted to clamp down on resellers who profit by snapping up

tickets for big events and selling them on at huge mark-ups to

desperate fans, announcing proposals to cap resale prices and

hold reselling websites more accountable.

The government said it wanted to make ticket resales fairer

and more transparent, responding to consumers who often find hot

tickets are sold out in minutes and reappear almost instantly at

higher prices on third party websites.

"From sports tournaments to Taylor Swift - all too often big

events have been dogged by consumers being taken advantage of by

ticket touts," business minister Jonathan Reynolds said,

launching a public consultation on the plans.

"These unfair practices look to fleece people of their

hard-earned income, which isn't fair on fans, venues and

artists."

The government said it was exploring options such as a cap

on the price of ticket resales of up to 30% above face value. It

would also look at limiting the number of tickets resellers are

allowed to list; increasing accountability of resale websites

and apps; and tougher penalties for those who break the rules.

The consultation runs until April.

When tickets for music band Oasis's reunion went on sale in

August, fans were left frustrated as the three websites selling

tickets - Ticketmaster, See Tickets and Gigsandtours - reported

technical issues.

The Competition and Markets Authority said in early

September it was looking into the concerns regarding the sale of

Oasis tickets by Ticketmaster, including so-called "dynamic

pricing," the practice of pushing up prices that are in high

demand.

Separate to the consultation on reselling, the government

said on Friday it was asking for evidence into pricing

practices, including dynamic pricing, and would consider if

further action was needed.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
James River Q2 adjusted income falls to $11.7 mln
James River Q2 adjusted income falls to $11.7 mln
Aug 4, 2025
Overview * James River Q2 adjusted net operating income falls to $11.7 mln * Excess & Surplus Lines segment grows 3% in gross written premium * Specialty Admitted Insurance segment premium declines 35% yr/yr Outlook * Company focuses on enhancing profitability and operational efficiency * James River aims to grow casualty E&S business through disciplined underwriting * Company remains focused...
ThredUp Q2 revenue beats street view; co lifts 2025 guidance
ThredUp Q2 revenue beats street view; co lifts 2025 guidance
Aug 4, 2025
Overview * Second-hand clothing retailer ThredUp Q2 2025 revenue grows 16% yr/yr, beating analyst expectations * Company achieves gross margin of 79.5%, gross profit rises 17% yr/yr * ThredUp ( TDUP ) raises full-year 2025 revenue and adjusted EBITDA margin outlook Outlook * ThredUp expects Q3 2025 revenue between $76 mln and $78 mln * Company forecasts Q3 2025 gross...
National Storage Affiliates Trust Q2 net income falls 4.1%
National Storage Affiliates Trust Q2 net income falls 4.1%
Aug 4, 2025
Overview * National Storage Affiliates Trust ( NSA ) Q2 net income falls 4.1% yr/yr * Co's Core FFO per share down 11.3% * Same store NOI declines 6.1% due to lower revenues, higher expenses * Co sells ten properties for $66.5 mln, impacting financial results Outlook * NSA revises 2025 Core FFO guidance to $2.17-$2.23 per share * Company...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved