Europe’s largest music market will soon be announcing a ban on ticket resale for profit, elating music fans while roiling investors in secondary ticketing companies like StubHub and Vivid Seats.

Multiple outlets in the United Kingdom are reporting that the Labour Party government of Prime Minister Keir Starmer will announce a plan to crack down on ticket scalping this week. Outlets like The Guardian are reporting that Starmer’s government had considered capping resale at 30% above a ticket’s original face value, but ultimately opted to ban the resale of tickets above face value following significant pressure from artists and industry groups.

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