Summer events: Should price caps be introduced on ticket reselling to cut down on ticket touts?

Critics say a price cap should be brought in to cut down on ticket touting - those buying tickets and selling them on at much higher prices.

Transcript

00:00 Should there be better restrictions on ticket reselling marketplaces?

00:05 As we head towards the summer months, your diary may be getting fuller.

00:09 We've got festivals like Glastonbury, Reading and Leeds and Creamfields,

00:12 sporting events like the Champions League Final, Wimbledon and the F1 Grand Prix,

00:16 and massive arena tours from the likes of Taylor Swift and Olivia Rodrigo,

00:20 all to hit the UK events calendar.

00:22 But the more popular an event is, the trickier it can be to get your hands on tickets.

00:26 And excitement for these once-in-a-lifetime events can lead to judgement going out the window.

00:31 When it comes to ticket reselling, there are successes and there are failures,

00:35 with scams and financial losses just as rife as the number of genuine tickets on the market.

00:40 Experts believe that regulation for these websites is the way to go.

00:43 Without it, you've no guarantee you'll secure authentic tickets via secondary sales,

00:48 leading to less support for venues to fill covers

00:49 and less revenue growth from ticket sales and on-site spending.

00:53 But critics say a price cap should be brought in to cut down on ticket touting,

00:57 those buying tickets and selling them on at a much higher price.

01:00 For platforms like SeatWave and ViaGogo, a cap would crush their business model.