""We are committed to ending the scandal of ticket touts," Housing Minister Steven Reed told BBC News, saying that ministers would set out the plans in more detail in the coming days."
"Tickets for popular music festivals like Glastonbury or tours by artists like Taylor Swift, Oasis or Radiohead tend to sell out online in a matter of minutes rather than hours, appearing online at inflated resale prices almost immediately. Touts use automated programs or "bots" to beat online queues for tickets."
"Recording artists do not benefit from these mark-ups, only the original ticket purchasers and the resale sites, which often charge purchasing and sales fees as brokers."
The British government will ban resale of concert, show and sports tickets at inflated prices to stop automated touts and protect fans from exploitative mark-ups. The measure targets modern ticket touting that uses automated programs and bots to beat online queues and immediately list tickets at high resale prices. Regulators previously raised concerns about dynamic pricing. Shares in the owner of major resale platforms fell after early reports. Popular events often sell out within minutes and quickly appear on resale sites with large mark-ups. Recording artists do not benefit from resale mark-ups; profits go to original purchasers and resale brokers.
Read at www.dw.com
Unable to calculate read time
Collection
[
|
...
]