Britain Cracks Down on Ticket Resale Mafia

Britain is tackling excessive ticket resales by capping prices, holding resale platforms accountable, and addressing dynamic pricing. The government launched a consultation, prompted by high-demand events like Oasis's reunion show and Taylor Swift concerts, aiming to protect fans from inflated prices. The consultation lasts until April.

In a decisive move, Britain announced plans to curb the exploitative practices of ticket resellers who surge prices, making it tough for fans to attend major events. The government aims to establish a cap on resale prices and enhance accountability for platforms involved in ticket resales.

Highlighting the rampant issues faced by sports and music fans, Business Minister Jonathan Reynolds launched a public consultation stressing that such practices unfairly extract more money from supporters, artists, and venues alike. He cited instances like Taylor Swift's concert and Oasis's reunion as affected events.

The proposed measures include limiting ticket resale prices to 30% above face value and imposing stricter regulations on resale platforms. Separate investigations are also underway to address dynamic pricing strategies. The public consultation is set to conclude in April.

(With inputs from agencies.)