Ticketmaster plans to close its two controversial resale sites, GetMeIn and Seatwave.
The decision came after mounting criticism that the secondary sites had become a target for “professional sellers”, who would sell tickets at huge markups.
Ticketmaster, which is owned by Live Nation (NYSE:LYV), said the platforms would be replaced with a fan-to-fan exchange, selling tickets at face value or lower.
“We know that fans are tired of seeing others snap up tickets just to resell for a profit on secondary websites, so we have taken action,” commented Andrew Parsons, head of Ticketmaster UK.
From today, there will be no new events listings on Get Me In or Seatwave.
However, the sites will continue to operate until October in the UK and Ireland, and closing later in the year for the rest of its European operations.
Sellers and Fans will still be able to re-sell tickets on rival platforms such as Viagogo and Stubhub, which is owned by Ebay.
Last November, the offices of both companies were raided by the Competition and Markets Authority (CMA), as part of its investigation into suspected breaches of consumer law.
The Society of Ticket Agents and Retailers welcomed the decision by Ticketmaster, commentating that ticket buyers would “have another safe and trusted place to resell their tickets”.
Shares in Live Nation are currently trading +0.12 percent as of 11.23 (GMT).
