How we’re bringing supply and transparency to ticket resale

How we’re bringing supply and transparency to ticket resale

Today, we’re proud to launch Vibe Verified, allowing trusted and vetted sellers to list tickets on www.vibetickets.co.uk. Using a transparent user profile and adhering to a strict code of conduct, trusted sellers can sign up to Vibe Verified. They will have a 'Vibe Verified' badge on their profile, making it clear to buyers if they’re buying from a fellow fan or a vetted verified seller.

Vibe Verified is not only a way to increase ticket supply and give fans more opportunities to see the artists they love, but also a way for Vibe Tickets to contribute to a more transparent and fair resale industry.

How?

Vibe Tickets doesn’t operate in a way that adds artificial inflation to prices, adds unnecessary hidden fees or uses pressured purchasing practices. Instead, we’ve built a dynamic marketplace in every sense. A true race to the bottom.

By bringing supply from fan-sellers and professional sellers to one place, we’re giving consumers choice and allowing them to see what’s actually available to determine the true market value of a ticket.

If someone - fan-seller or Vibe Verified seller - wants to list their tickets for more than face value, they can. It doesn’t mean they will sell them and the likelihood is, there will be another listing which naturally brings the average price down. If there are two general admission/ standing tickets; one going for £50 and another listed for £70 - guess which one the consumer is going to purchase!

We don’t enforce price capping simply because we don’t need to. Building an open marketplace that regulates itself and is competitive and favourable to both buyers and sellers has been our focus.

Uncapped resale is needed

For years it has been the media’s view that uncapped resale is not wanted by the fans. Our user behaviour suggest otherwise.

Contrary to common belief, the biggest rise in resellers are what we call bedroom sellers. We are seeing more and more savvy 18 - 25 year olds, buying four tickets instead of two, so that they can sell the other two in order to afford going to the gig in the first place. They add a tenner to the price and use social media to sell them to avoid extortionate fees.

The fragmentation in the ticketing industry, where nobody really knows what’s available and where, is what leads to inflation in ticket prices... and that’s what leads to FOMO and bad vibes!

The resale industry is changing

Despite recent negative headlines, resale has cleaned up its act and it’s now much better regulated. Vibe Tickets is proud to support these changes and is looking forward to becoming more actively involved in future discussions - as the fans’ favourite service, we believe we have a lot of real insight to offer.

Our first step is introducing Vibe Verified. We hope the fans will like the added supply, choice and transparency.

We’ll keep you posted on progress and feedback from both fans and Vibe Verified sellers and if you have any questions please drop @lukemassie a message.