Britain's Move Against Ticket Touting: A New Era in Event Access

The UK plans to ban reselling event tickets at inflated prices to curb ticket touting. This initiative is led by housing minister Steve Reed, impacting companies like StubHub. The proposed ban may include capping resale prices and fees. Investigations into ticket pricing tactics are underway.

The UK government announced plans to ban ticket resales at inflated rates amid growing concerns over ticket touting. The ban aims to stop technology-savvy resellers from exploiting high-demand events.

Housing Minister Steve Reed highlighted the financial strain on consumers, resulting in a sharp fall in StubHub's shares. The government's decision to outlaw resales above face value and cap resale platform fees is imminent.

The Competition and Markets Authority has also initiated probes into the practices of online ticketing platforms, ensuring fair pricing and accessibility for all event-goers.

(With inputs from agencies.)