By City AM reporter
[RE: Labour’s ticket resale price cap plan could risk ‘black market’, Viagogo warn]
The Labour party has announced plans to introduce a wave of unnecessary and ill-considered regulatory measures on the secondary ticketing market. However well intentioned, the announcement is misguided and the proposed changes would create a huge black market for ticket resales – which will have negative outcomes for consumers.
The proposed measures will push the resale of tickets away from transparent and safe platforms such as Stubhub International and onto unregulated websites and street corners, which offer consumers no protections. This has been evidenced in Ireland and Australia, which introduced tighter regulation on secondary ticketing to disastrous effect with fraudulent ticket sales spiking and thousands of seats left empty at major events.
Secondary ticketing platforms such as ours are the safest option for consumer protection and the best option for the entertainment industry. Stubhub international’s fan protect guarantee, which offers a replacement or 100 per cent refund, as well as our secure and trusted ecommerce platform, protect consumers against fraud, which is widespread across the black market. Our customer service lines are open seven days a week and all importantly, our services play a vital role in supporting the industry and boosting the economy – helping event organisers fill seats to ensure artists and venues get the revenue they need.
Stubhub International has been able to deliver customer protection and support for live events within an already highly regulated market. As parliament considers an amendment to the Digital Markets Bill, which aims to further tighten regulation around ticket resales, it is critical for UK policymakers to develop proposed measures in consultation with industry to ensure they understand the consumer protection provided and the significant unintended consequences of government intervention in a free market.
Bob Kupbens, CEO, StubHub International
