Protecting Music Fans: The Impact of Ticket Touting on Live Events
A father from South London faced the dilemma of buying overpriced Taylor Swift tickets for his daughter after failing to secure them through the official ballot. The experience cost him more than £1,000, with tickets priced at around £500 each. New research from O2 reveals that 38% of purchases on secondary ticketing sites last year were funded by short-term loans, forcing music fans to choose between missing out on their favorite acts or paying inflated prices. The Government plans to criminalize the resale of tickets above face value from November.
Driven by his daughter's excitement, the father purchased the tickets on the day of the event, motivated by her enthusiasm and the lack of alternative options to obtain the coveted tickets. Despite using a short-term loan to split the payment over a few months, he ended up spending more than intended a month before the gig. Research shows that 15% of purchases on uncapped ticket resale websites were funded by short-term loans last year, while 23% were funded by Buy Now, Pay Later (BNPL) schemes.
The father expressed concern about touts exploiting young fans who are eager to see their favorite performers, emphasizing the need for legislation to protect buyers from such practices. The Government's upcoming price cap on the resale of live event tickets aims to prevent tickets from being resold for more than their original cost. Resale platforms will be required to comply with the price cap, and individuals caught reselling tickets above their original value will face consequences.
Gareth Griffiths, director of partnerships and sponsorship at Virgin Media O2, emphasized the importance of music fans being able to see their favorite artists live at a fair price, without being forced into debt by ticket touts. O2 is urging the Government to take action to protect music fans and the live music economy from exploitation. Adam Webb, campaign manager at FanFair Alliance, echoed the concerns about online ticket touting and called for the introduction of a cap on ticket resale prices to prevent further exploitation of genuine music fans.
O2's Stamp It Tout online information hub provides tips to help individuals make informed ticket purchases and avoid falling victim to ticket touts. The father's experience highlights the challenges faced by music fans in securing tickets at reasonable prices and the need for measures to curb the exploitation of fans by ticket touts.