• The UK government will ban the resale of tickets for concerts and sports events above their original price.
• Culture Secretary Lisa Nandy emphasized that the new rules target scalpers who exploit fans.
• Violators could face fines up to 10% of their global turnover.
• Resale platforms like Viagogo express concerns that such regulations may push consumers to unregulated markets.
• The government aims to save fans approximately £112 million annually through these measures.

On November 19, the UK government announced its intent to ban the resale of tickets for profit to concerts, sports events, and other live performances, aiming to disrupt the activity of ticket scalpers. Culture Secretary Lisa Nandy stated that these touts have been "ripping off fans by using bots" to secure high-demand tickets and resell them at significantly inflated prices. This initiative is part of a broader commitment to ensure that entertainment remains affordable for all fans, particularly in light of the soaring prices observed on resale platforms like Viagogo for shows by artists such as Harry Styles and Taylor Swift, according to South China Morning Post and Le Monde.

The new regulations will prohibit reselling tickets above their face value, defined as the original price plus unavoidable fees. This move aims to tackle a pervasive problem where tickets for popular events are immediately listed at exorbitant prices on resale sites. The government has forecast that these measures will save fans approximately £112 million each year, effectively decreasing the average resale price by £37, as reported by Reuters and Le Monde.

However, the ban comes with strict penalties; businesses failing to comply could face fines up to 10% of their global turnover. Nandy and Business Secretary Peter Kyle advocated for these bold measures to dismantle the current profit-driven scalper model. While this could make narratives involving ticket sales less favorable for resellers, critics from platforms like Viagogo caution that such regulations may inadvertently push sales to unregulated markets, potentially increasing fraud rates, as stated by South China Morning Post and Reuters.