Concertgoers continue to be exploited by ticket touts, as new data reveals that tickets for some of London’s biggest shows are being listed for up to five times their face value.
New analysis from O2 has revealed that tickets for gigs including Diana Ross, Billie Eilish, Coldplay and Oasis were going for 490% above face value on average.
Prices are being inflated by hundreds of pounds. In one instance, a pair of tickets originally sold for £97 were re-listed at £1,205 each — a mark up of 1,149%.
Resale tickets to Diana Ross’ One Legendary Voice performance, which is being held at The O2 tomorrow night, were being sold at 490% above face value.
Meanwhile, tickets to Billie Eilish are being sold for 488% over the price originally paid, while those hoping to see Lady Gaga’s ‘The MAYHEM Ball’ in September are set to face a 418% mark-up if they purchase a ticket from an uncapped resale site.
Oasis, Coldplay, Kendrick Lamar and SZA all had mark ups ranging from at least double the face value (102%) to more than three times the original price (347%).
It comes as the telecoms firm is urging the government to implement a 10% cap on the resale of concert tickets.
The company believes this would go a long way in combatting the £145 million profit that touts are currently making by selling tickets at overinflated prices.
Based on the current resale rules, the majority of money paid for resale tickets will go to the seller, not the artist, their band or the crews who make the show possible.
Gareth Griffiths, Director, Sponsorship and Partnerships at Virgin Media O2, said “O2’s new research reveals touts are taking fans for a ride, and in some instances charging on average five times more than face value - equating to hundreds of pounds added to the price of a ticket to some of the UK’s biggest gigs.
“The government’s consultation into the resale of live tickets was an important first step, but with touts not taking a summer holiday and continuing to rip off consumers day in and day out, it's time to act and make the ticketing market fairer for all.”
