Overview
- Housing minister Steve Reed said the government will set out plans in the coming days to end for‑profit resales, with an announcement widely expected this week.
- Reports indicate resales would be limited to the original price and subject to capped service fees, with curbs on bulk reselling and coverage of sales on social media.
- The Competition and Markets Authority opened investigations into Viagogo and StubHub over pricing practices and mandatory charges, adding regulatory pressure on the sector.
- Live Nation and Ticketmaster backed the plan, noting Ticketmaster already restricts UK resales to face value, while Viagogo and StubHub warned a cap could push transactions to black markets and raise fraud risks.
- Investor reaction has been swift, with StubHub’s US-listed parent falling about 14%, as examples like Oasis and Radiohead show tickets relisted for many times their original cost.