Ticketek to launch a price-capped ticket exchange to “protects fans”

Australian ticketing company Ticketek is launching a ticket exchange system called Ticketek Marketplace at the end of the month.

A key feature of the Ticketek Marketplace is that resold ticket prices are capped at 10% above face value.

Once tickets have been purchased on Ticketek Marketplace the original barcodes will be cancelled and new barcodes reissued into the name of the new customer, guaranteeing all tickets are valid

A single Ticketek user ID and Login will apply across both Ticketek and Ticketek Marketplace t”o further underpin the integrity of the new platform”, says Ticketek.

Geoff Jones, CEO of Ticketek parent company TEG stresses that the new service is founded on the principles of fairness, transparency and security.

“Many sports and entertainment fans have fallen victim of resale scalping practices based on highly inflated ticket prices, misleading marketing, a lack of transparency and often outright fraud,” says Jones.

“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. Ticketek Marketplace delivers these requirements to fans.

“The launch of Ticketek Marketplace is another important step in protecting fans and ensuring the integrity of ticket transactions.”

Ticketek Australia managing director Cameron Hoy says the model can work successfully in previous collaborations with key industry partners on select events.

“We are delighted to offer a service for all events and fans through the launch of Ticketek Marketplace,” comments Hoy.

“This is a consumer-led, price-capped and ethical ticket exchange service for fans with a genuine need to buy or sell on the secondary market.

“Over several years Ticketek has worked with industry bodies, venue partners, promoters and governments to educate fans about the dangers of resale scalpers.

“We commend the steps taken by state governments to legislate against these unscrupulous operators.”

Ticketmaster recently announced a replacement for Get Me In! and Seatwave.

UK’s Twickets launched in Australia last year with a number of music artists, promoters and venues.

It is negotiating with the sports sector and earlier this year expanded into the New Zealand market.