The United Kingdom plans to ban ticket reselling for profit

"After an open letter from artists like Dua Lipa, Coldplay, Sam Fender, Radiohead and the Cure urging Prime Minister Keir Starmer to ban the practice, the Department for Culture, Media and Sport will announce a plan to cap ticket resales at face value (with minimal fees). They estimate the move could lower ticket prices by around £37 ($49), saving fans around £112 million ($147 million) per year."

"Ticket prices have been a hot topic in the U.K. after the long-awaited Oasis reunion tour highlighted Ticketmaster's "dynamic pricing" model. While a separate issue from reselling, that demand-reactive pricing system showed ticket costs skyrocketing in real time while fans waited in digital lines to buy them. For those that missed out, they had few other options other than to pay inflated prices on third-party resale sites like Viagogo and Stubhub."

"Before the announcement, Ticketmaster's parent firm, Live Nation Entertainment, said it already restricts resale prices in the U.K. to face value. The company said the proposal was "another major step forward for fans." In the U.S., the company recently established an "all-in" pricing model to be more transparent about its infamous fees, saying that "The industry-leading initiative has proven beneficial for both fans and artists, delivering greater transparency for fans while increasing sales"

The U.K. will ban the resale of music, comedy, theatre and sports tickets for profit and cap resales at face value with minimal fees. Officials estimate average ticket prices could fall by about £37, saving fans approximately £112 million per year. Fans will still be able to transfer tickets they cannot use, but not at marked-up prices. The move follows appeals from major artists and concerns about demand-reactive "dynamic pricing" and inflated third-party resale costs. The Competition and Markets Authority examined Ticketmaster's consumer protection compliance. Live Nation says it already restricts U.K. resale prices and supports the change.

Read at Los Angeles Times