The UK government has officially outlawed the resale of tickets for profit, delivering a long-awaited blow to professional touts. Business Minister Kate Dearden described the measure as a 'no-brainer', particularly in light of the cost-of-living crisis. The ban follows more than a decade of campaigning by music industry groups, consumer champions, and MPs.
Artists including Radiohead, Coldplay, Dua Lipa, and Mogwai had urged Prime Minister Keir Starmer to act, just a week before the announcement. The legislation prohibits for-profit resale on specialist platforms and social media, with a carve-out for special situations such as Wimbledon's debenture model.
According to government estimates, consumers could save up to £112 million a year, or £37 per ticket. The Competition and Markets Authority (CMA) will monitor compliance and can impose penalties of up to 10% of turnover, which for Viagogo's US parent could amount to around $180 million.
Shares in StubHub Holdings have fallen about 25%, or more than $1 billion, since news of the ban broke. Resale platforms argue that the prohibition may drive fans to illegitimate sites or fraudsters, where they could be scammed. Critics of the ban point to data suggesting higher fraud rates in regions with similar restrictions.
Longtime anti-touting campaigners have welcomed the decision, saying it will end practices such as speculative selling and the use of automated bots to hoover up tickets. The implementation date has yet to be confirmed.
