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Cris Miller, the global managing director of resale ticket platform Viagogo, has said “price caps just don’t work” following proposed plans around ticketing from Labour leader Sir Kier Starmer, should he become the UK Prime Minister.
Last month, the Labour leader said he would cap the resale prices of sport and music tickets, while also regulating resale platforms if his party wins the next UK general election.
The legislation would see restrictions placed on resale, including a set percentage over the original price; a limit on the number of tickets an individual reseller could list; and every platform would be held accountable for the accuracy of information about tickets they list for sale.
Speaking to the Guardian, Miller said: “What happens with price caps is that the highest-demand part of the market, where you might see prices go above the original price, will just get driven underground.”
Additionally, Miller argued that Viagogo provides a safe platform for ticket resale, as opposed to a street corner tout or illicit website.
“We believe that someone that buys a ticket has the right to resell,” said Miller.
He added later on in the interview that any tech which restricts how, or the level of profit made by someone choosing to transfer a ticket, is “anti-competitive” and “unfair to fans”.
Starmer’s comments came at the Labour Creative Conference in March, and at the time, a Viagogo spokesperson told TheTicketingBusiness: “We see this as an opportunity to underscore the effectiveness of today’s regulatory framework of the resale marketplace, which has been shaped by years of government review and oversight. A safe, secure and transparent environment for UK consumers has been established.
“Significant evidence demonstrates that imposing resale restrictions and removing safeguards forces fans to unverified sites and social media, exposing them to a high risk of fraud without any protection.”
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