| Updated:
London’s market sales market has been spiraled out of control this summer, with fans facing astronomical markings on concert tickets and a growing wave of fraud, according to new research from O2.
By analyzing over 1,000 resale lists of large platforms, O2 Diana found Ross tickets listed at 490 percent over its original price.
Billie Eilish resale tickets followed closely at 488 percent, with Lady Gaga’s commander of 418 percent.
Stalwarts such as Coldplay and Oasis have not escaped, with prices inflated by 300 to 347 percent above nominal value.
Game video
One of the most extreme cases saw a ticket of £ 97 reistered for over £ 1,200 – an astonishing 1,149 percent increase.
But these are not insulated incidents. O2’s report emphasized the dominance of professional touts, with over 82 percent of Billie Eilish resale tickets published by sellers moving over 100 tickets a year.
These large -scale operators drive the inflated prices and press genuine fans out of the market.
That is why O2 urges the government to introduce a price of 10 percent on resale tickets as part of its “Stamp IT out” campaign and warns that “Touts make about £ 145 million a year on the back of music fans”.
A blue -marked sector
Nationally, ticket fraud has jumped almost 50 percent over the past year, with reports that top in June and July – the heart of live music season.
The issue has captured the attention of the supervisory authorities. The Competition and Markets Authority (CMA) has raised concern about how Ticketmaster marketed its “Platinum” tickets, which in some cases were sold three times the regular price without offering any added value.
O2 and other campaigns require better openness, stricter rules for resale and smarter technology to stop bots and bulk buyers that dominate the market.
Their campaign “Stamp It Out” offers advice to fans trying to navigate the resale market safely.
Without meaningful reform, London’s music lovers meet a summer with inflated prices and risky purchases, while professional toks continue to have cash in uncontrolled.
