Oasis Cancels 50,000 Tickets To Combat Scalping
Portfolio Pulse from Franca Quarneti
Oasis promoters, including Live Nation Entertainment Inc (NYSE:LYV), are canceling over 50,000 tickets for their UK reunion tour to combat scalping. The canceled tickets will be redistributed at face value through Ticketmaster. This move addresses the issue of unauthorized resales, which have seen tickets priced exorbitantly on platforms like Viagogo and StubHub. Despite the controversy, the promoters are committed to ensuring fair ticket distribution.
October 29, 2024 | 8:37 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Live Nation Entertainment Inc is taking action against ticket scalping by canceling 50,000 tickets for Oasis's UK tour, redistributing them at face value through Ticketmaster.
Live Nation's decision to cancel and redistribute tickets at face value is a proactive measure against scalping, which could enhance its reputation and customer trust. This action may positively impact LYV's stock in the short term as it aligns with consumer interests and regulatory compliance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80