A price cap is among proposals to curb the activities of professional touts who exploit fans eager to buy concert tickets for top artists.
Oasis revealed plans to cancel more than 50,000 tickets to their reunion tour sold via secondary ticket sites.
Ministers from The Department for Business and Trade and the Department for Culture, Media and Sport are launching a consultation on introducing a cap ofbetween 0 per cent and 30 per cent uplift on the face value aimed at curbing abuses estimated to additionally cost supporters between £350m-£500m a year.
Other proposals include limiting the number of tickets resellers can list to the maximum they are allowed to originally purchase.
Ticket resale websites and apps could also be held liable for passing out accurate information they provide to fans and offenders may face bigger fines, which currently have a ceiling of up to £5,000, for breaches.
Culture Secretary Lisa Nandy said: “The chance to see your favourite musicians or sports team live is something all of us enjoy and everyone deserves a fair shot at getting tickets – but for too long fans have had to endure the misery of touts hoovering up tickets for resale at vastly inflated prices.”
Musician and DJ Fatboy Slim said: “Great to see money being put back into fans’ pockets instead of resellers.”
“The recent Oasis ticket sales also highlighted the flaws of so-called dynamic pricing in this market – with some customers queuing for hours for tickets only to find that prices had risen dramatically and were no longer affordable.
A spokesperson for ticket resale site Viagogo said: “We will continue to constructively engage with the government and look forward to responding in full to the consultation and call for evidence on improving consumer protections in the ticketing market.”
Ticketmaster said: “We support proposals to introduce an industry-wide resale price cap.” We are committed to making ticketing simple and transparent.” The company said it capped ticket resale at face value in 2018.
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