As part of the agreement, the four secondary ticket sites will provide further details on restrictions on entry and view, whether multiple seats listed together are positioned next to one another, any additional charges not included in the listed ticket price, the face value of tickets and a contact email address if something goes wrong.
The CMA has also announced it is writing to other major ticket re-sale platforms and brokers to explain its expectations about conduct and obligations under consumer law, as well as other businesses that re-sell tickets.
A 60-second summary is also being produced by the CMA, which offers an at-a-glance guide to buyers on what they can expect from businesses and what they should check before purchasing from these companies. This includes any age-related restrictions on entry or restrictions on view, as well as whether additional charges apply.
Nisha Arora, CMA senior director, said: "A well-functioning secondary ticket market benefits fans by helping them to get tickets for events they want to see and by helping them when they can no longer make use of their tickets. As a result of the CMA’s action, and the constructive response of the major secondary ticket platforms, buyers will now have more of the key information they need before buying."
She added businesses that do not provide secondary ticket consumers with information they need may find themselves subject to action under consumer protection law, including possible financial penalties from Trading Standards Services to drive future compliance.
As part of the investigation the CMA has liaised with the Advertising Standards Authority (ASA), which is also taking forward work in this sector to further enhance transparency for consumers.
Shahriar Coupal, director at the ASA, said: "Hiding or omitting information about charges that consumers have to pay is not only misleading it’s simply unfair. In tandem with the CMA, we’ve been working closely with the secondary ticket sector to help make sure it’s clear and upfront about costs so that consumers get a fair deal and businesses play by the same rules."
In January MPs rejected amendments to the Consumer Rights Bill to make secondary ticketing websites more transparent, after 80-plus industry representatives penned an open letter calling for ticket resale reform.
Comment below to let us know what you think.
For more in-depth and print-only features, showcases and interviews with world-leading brands, don't miss the next issue of Event magazine by subscribing here.Follow @samedwardsevent