UK To Ban Concert Ticket Resales At Inflated Prices [Barron's]
Live Nation Entertainment, Inc. (LYV)
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Source: Barrons
Resale platforms and ticket touts often list tickets at a huge mark-up on their face value price, sparking outrage from the music industry and fans alike. Advertisement - Scroll to Continue The issue was highlighted by widespread public anger over the exorbitant cost of some tickets to see the British leg of Britpop band Oasis's reunion tour this year. "The UK is home to a brilliant range of music, entertainers and sporting stars -- but when fans are shut out -- it only benefits the touts," Business Secretary Peter Kyle said in a statement. "That's why we're taking these bold measures to smash their model to pieces and make sure more fans can enjoy their favourite stars at a fair price." The ruling Labour party, elected in July 2024, vowed to introduce consumer protections in its election manifesto. Advertisement - Scroll to Continue "For too long, ticket touts have ripped off fans, using bots to snap up batches of tickets and resell them at sky-high prices," Culture Se
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