Purchasing tickets on Australia’s resale market can leave customers open to exploitation and ultimately locked out of performances. That's why ticketing brand TEG is placing transparency at the forefront of its resale brand, Ticketek Marketplace, which will cap maximum resale prices at 10%. We explore the insights behind how the company is supporting true music fans and helping maintain a fairer ticketing economy.
Ticketek Marketplace, due to go live later this month, will cap ticket prices at a maximum of 10% above face value and will ensure authenticity by only allowing users to sell tickets previously purchased using their sister-site, Ticketek. With ticket sales revenue for music performances having grown by a record-breaking 87.8% in 2017, the effort by parent company TEG aligns follows the Australian government’s own to curb 'scalper profiteering' in the live events industry. "TEG believes that fans want a secondary ticket marketplace they can trust, where the authenticity of tickets is guaranteed and where the prices are fair," says Geoff Jones, the Chief Executive of TEG.
Ticketek’s new platform allows Australian revellers to purchase affordable tickets confidently without the risk of cancellation, and with a piece of mind they're not being duped. There has long been discord within the Australian secondary ticketing and resale market, with consumers and industry bodies alike taking umbrage with sites such a StubHub and Viagogo, for not doing enough to prevent resale tickets going for extortionate prices. Industry officials have called out for a "fairer, more transparent option" and this is something Ticketek Marketplace aims to be. Similarly, in Europe, See Tickets’ Fan-to-Fan provides peace of mind to customers looking to resell or buy tickets, without feeling like they've been taken advantage of.
Aaron Hanaphy is a behavioural analyst at Canvas8, which specializes in behavioral insights and consumer research. As a synth-loving semiotician you’ll either find him fiddling with filters or diving deep into the cultural nuances of anything from bad TV to brand language.
