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Ticketek to launch price-capped ticket exchange

Like similar solutions in the UK and Europe, Ticketek Marketplace will cap prices at +10% of face value and give fans "a secondary ticket marketplace they can trust"

By Jon Chapple on 16 Nov 2018

Geoff Jones, TEG

image © TEG

TEG, the parent company of leading Australasian ticket agency Ticketek, has announced the launch of Ticketek Marketplace, a price-capped ticket exchange for Australian consumers.

Ticketek Marketplace, set to go live later this month, will serve as an online portal to resell tickets previously purchased from Ticketek, with a single Ticketek user ID and login applying across both it and Ticketek’s primary platform.

The Ticketek announcement follows the launch of several similar solutions by its European cousins, including See Tickets’ Fan-to-Fan, CTS Eventim’s FanSALE, AXS’s Marketplace and, most recently, Ticketmaster’s upcoming replacement for Get Me In! and Seatwave.

Like FanSALE and AXS Marketplace, Ticketek Marketplace will cap resale prices at a maximum of 10% above face value.

“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 TEG CEO Geoff Jones (pictured).

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

“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.”

According to the International Ticketing Yearbook 2018, Ticketek is, with Ticketmaster Australia, one of the ‘big two’ primary ticketing platforms in Australasia. TEG also owns promoters TEG Live and TEG Dainty, Qudos Bank Arena in Sydney and data firm TEG Analytics.

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

 


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