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Electronic Music Magazine Resident Advisor Introduces Ticket Reselling

Thursday, August 28, 2014   (0 Comments)

Billboard (08/05/14) Brown, Harley

U.K.-based electronic music magazine Resident Advisor (RA) recently announced the rollout of its own ticket resale service, which "aims to eradicate the circulation of fraudulent tickets and prevent touts profiting from in-demand shows, with tickets sold at cost price." Queues for resales activate once an event sells out, at which point customers, should they opt not to attend the event, can resell their tickets. Resellers can change their minds and keep the ticket until it is resold, and once sold to a new customer, the original ticket buyer is refunded at full face value, with the booking fee subtracted. RA co-founder Paul Clement says the publication launched a test version of the resale platform, which has been under development since the RA website relaunch in January, with select events such as Summer in the City added in the past several weeks. "Tickets were being added to the resale queue and sold in minutes—three to four tickets in 20 minutes," Clement notes. "Seeing it actually working as opposed to a harebrained scheme is sort of a nice feeling." RA does not impose a transaction fee, and Clement reports "the margin in reselling a ticket is relatively small" after adding initial transaction fees to the refund fee and accounting for administration costs. He hopes the magazine's effort will encourage the broader ticketing market to adopt a similar standard.

 

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