TicketNews: The UK government has confirmed plans to impose a legal cap on concert ticket resale prices, pledging to curb profiteering in the secondary market. But financial institutions, economists, and consumer protection experts are warning that such restrictions could backfire — driving fans toward unregulated channels and increasing the risk of scams.
2 comments:
Sweet, again it's great to see governments becoming more and more involved in this industry. It's been far too free from regulation for way too long. The impacts that the lack of regulation has had on many of the people not only just trying to enjoy shows and the people who have been working in it have been pretty terrible. There's a lot that can come from the government stepping in. More job opportunities and subsidies, better pay for the union workers that put together the shows, and just more opportunities all around, again great to see the United Kingdom doing something about it. I think there's a legal battle happening in the United States over it, and a possible anti-trust lawsuit as well which is fantastic, I think it's starting to look better and better for the entertainment industry, and any progress that we can make is good progress, especially considering how it's currently standing now.
This is such an interesting idea and I have no idea how I feel about it to be completely honest. I do think that concert tickets are kind of ridiculous but I do not know if the answer is to cap all tickets. It is hard to form thoughts about this because the article does not include the price they are capping it at and I think that would change a lot for me. I think it would be interesting to implement this but only for a percentage of the seats. I think if you can sell tickets for way too much money go for it but I think it should be select seats that can be whatever but say 75% need to be under the cap price. I wonder if there is a middle ground here but I also fear that this price they are capping it at is going to be really high to appease people and pass this.
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