Face-value 'ethical' resale site Twickets has slashed £100 plus fees for Oasis tickets to £25 after being accused of cashing in. The platform is backed by Oasis's management
Face-value 'ethical' resale site Twickets has slashed £100 plus fees for Oasis tickets to £25 after being accused of cashing in. The platform is backed by Oasis's management
Another had a £101.24 charge on two tickets with a face value of £337.50 plus fees each. The practice should be “illegal” one fan wrote on X. He said Twickets, which is backed by backed by Oasis’ management, remained “hugely competitive against the secondary market, including sites such as, Gigsberg and StubHub. Not only do these platforms inflate ticket prices way beyond their original face value but they also charge excessive booking fees, usually in the region of 30-40 per cent. Twickets by comparison charges an average fee of around 12.5 per cent.
Twickets works in partnership with prominent artists including Ed Sheeran and Adele as the official resale platform for their tours. The platform is profitable, with more than one million tickets listed each year. Hit hard by Covid, the business said gross revenues were up 140 per cent compared to 2019 by 2022.According to Twickets, 74 per cent of ticket sales are made in the first 48 hours after a listing, while two-thirds of tickets sold are within a week of the event itself.
A Whitehall source said the Government’s consultation would include proposals for “restricting the price of resold tickets to a set percentage of their original price, or limiting the number of tickets that resellers can list.”
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