By Habiba Iqbal | @habiba_bn
The American tickets sales and distribution company is set to close down two of their resale sites: Seatwave and Get me in after major artists like Ed Sheeran stopped their tickets from being sold on resale sites.
They opted to do this in a bid to crack down on ‘touts’ from quickly snatching up the tickets at a cheaper original price and then reselling them at a higher prices as demand grew. It seems the industry is beginning to recognise the problem and finally trying to prevent the exploitation of its consumers.
Ticketmaster now plans to have all resales occur through their original website where they will be transparent about second hand tickets and cap resale prices.
This move by Ticketmaster will also allow them to compete with the fan favourite ticket exchange: Twickets which caps resale prices at 10% above face value. Additionally, Twickets has had major artists back the way they conduct business such as Adele and Ed Sheeran who both chose them as the official resale partners for their tour. Ticketmaster will now finally be able to win back artists as Twickets has done by conducting in better faith.
These steps taken by Ticketmaster have been welcomed by many but the industry still has a way to go with rival services like Viagogo and the eBay-owned Stubhub still at work.