The United Kingdom plans to ban ticket reselling for profit

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The U.K.plans to pass one of the world’s most sweeping anti-ticket-scalping measures, banning the resale of music, comedy, theater and sports tickets for profit.After an open letter from artists like Dua Lipa, Coldplay, Sam Fender, Radiohead and the Cure urging Prime Minister Keir Starmer to ban the practice, the Department for Culture, Media and Sport will announce a plan to cap ticket resales at face value (with minimal fees).

They estimate the move could lower ticket prices by around £37 ($49), saving fans around £112 million ($147 million) per year.Fans will still be able to sell tickets to shows they can’t attend, just not at any meaningful markup.

Music The suit claimed Live Nation misled investors when it said it ‘does not engage in behaviors that could justify antitrust litigation.’Ticket prices have been a hot topic in the U.K.after the long-awaited Oasis reunion tour highlighted Ticketmaster’s “dynamic pricing” model.

While a separate issue from reselling, that demand-reactive pricing system showed ticket costs skyrocketing in real time while fans waited in digital lines to buy them.For those that missed out, they had few other options other than to pay inflated prices on third-party resale sites like Viagogo and Stubhub.

The U.K.’s Competition and Markets Authority then opened an investigation into Ticketmaster’s adherence to consumer protection laws.Music Oasis’ Rose Bowl reunion shows are a celebration for city that needs one.

“We need to bring joy back to people,” one fan said.“Something simple like one of the greatest rock and roll bands of all time.”U.K.

Housing Secretary Steve Reed told the BBC that reselling for profit was “hugely damaging to individuals having to pay through the nose for tickets.”Before the announcement, Ticketmaster’s parent firm, Live Nation Entertainment, said it already restricts resale prices in th...