UK Competition Authority Supports Cap on Ticket Resale Prices

The UK's Competition and Markets Authority (CMA) has shown strong support for a proposed cap on secondary ticket resale prices, potentially limiting resale prices to 10% above the original ticket cost. This move is part of the government's efforts to combat predatory practices in ticket resale, which have faced significant public backlash. The CMA's backing is a significant shift, as it had previously not proposed a price cap despite acknowledging issues in the secondary market. Stakeholders like Viagogo and StubHub may face substantial operational impacts if the cap is enforced, as they rely heavily on ticket resales at inflated prices. The CMA emphasized that effective enforcement against violations would be crucial to ensure consumer protection and prevent resellers from circumventing the cap through increased booking fees. The proposed changes come amidst a broader political context where U.S. legislative efforts on similar issues have stalled, highlighting a stark contrast in regulatory approaches between the two countries.