UK to ban ticket resales above face value
Britain will prohibit ticket resales above face value for concerts, sporting events and theater performances under legislation expected from the government. The measure represents a stricter stance than earlier proposals that would have permitted markups reaching 30 percent, though service fees will remain permissible within regulated limits.
Musicians, including Radiohead, Coldplay and Dua Lipa had pressed Prime Minister Keir Starmer to shield fans from exploitative secondary platforms like Viagogo and StubHub. The Competition and Markets Authority will enforce the restrictions, which hold resale marketplaces accountable for seller violations and target automated bulk purchasing operations. Social media platforms face identical constraints to prevent unregulated trading.
StubHub Holdings stock declined nearly 14 percent following the reports. The company and Viagogo contend price caps drive consumers toward fraudulent black market transactions, citing higher fraud rates in Australia and Ireland. Research suggests British music fans pay an additional 145 million pounds annually to ticket resellers, with typical markups surpassing 50 percent. One in five tickets reaches secondary markets, where professional traders dominate inventory at major events.
