The secondary ticketing market, which includes websites such as StubHub and SeatGeek, is anticipating a significant increase in revenue this summer. According to industry experts, fans are expected to shell out an extra £24 million on event tickets over the coming months.
While some may welcome the opportunity to sell their unwanted tickets, others have expressed concerns about the high prices and ticket touting. In fact, research suggests that prices for certain events can be up to 50% higher than face value on secondary ticketing websites.
Some of the most sought-after events include music festivals such as Glastonbury and Reading, as well as sports matches featuring top-tier teams like Manchester City and Liverpool.
The increase in revenue is attributed to a combination of factors, including rising demand for event tickets and a lack of transparency around prices on secondary ticketing websites.