Viagogo Global Managing Director on Providing Consumers the Option to Resell Event Tickets.

DEBATER. BUT WE'LL SEE BECAUSE WE'LL BE DEBATING HER, I GUESS IN THE PRETTY NEAR FUTURE TIM WALZ IS AMONGST THE US POLITICIANS, PUSHING FOR TIGHTER REGULATION OF TICKET RESELLERS. >> MINNESOTA GOVERNOR SIGNED A BILL EARLIER THIS YEAR TO PROTECT CONCERT GOERS AGAINST JUNK FEES AND IN BRITAIN, THE LABOR GOVERNMENT IS ALSO SO CONSIDERING NEW RESTRICTIONS ON TICKET RESALES SECURE STARMER HAS PLEDGED TO CAP PRICES AND REGULATE PLATFORMS. THIS IS CHRIS MILLER HE IS THE GLOBAL MANAGING DIRECTOR OF VIA GO-GO AND SAYS THAT WOULD BE A BIG MISTAKE. IT SAYS LEAVE FANS DISAPPOINTED, ENCOURAGE ILLEGAL ACTIVITY BEFORE WE GET TO USE TO TALK ABOUT TICKET, THIS BUSINESS OF TAYLOR SWIFT INTERESTING TO PROMOTE AND WE THINK IT'S THE PROMOTERS THAT HAVE CANCELED IT BECAUSE THEY SAID THEY CANNOT GUARANTEE THE SAFETY. NOW, WE UNDERSTAND THAT EVERYBODY IS GOING TO GET THEIR MONEY BACK IN SHORT ORDER BUT IT DOES PROVE IT DEPENDS WHERE YOU BUY YOUR TICKET FROM, HOW YOU GET YOUR MONEY BACK. IF I BOUGHT IT FROM A SCALP OR OUTSIDE THE FRONT DOOR OR ON A CREDIT CARD THAT SOMEBODY ELSE HAD BOUGHT IT FROM? I COULD BE IN TROUBLE. HE COULDN'T DRY. >> YEAH. THAT'S RIGHT, RICHARD, FIRST OF ALL, THANKS FOR HAVING ME AND OBVIOUSLY, IT'S I JUST HEARD THE STORY MYSELF. IT'S DEVASTATING. WE PARTICIPATED IN THAT MARKET AND THERE WERE THOUSANDS AND THOUSANDS OF PEOPLE THAT USE VIA GO-GO AND STEP UP HERE IN THE UNITED STATES TO GAIN ACCESS TO THAT EVENT. AND THAT'S EXACTLY THE REASON WHY WE EXIST. WE EXIST TO PROTECT FANS AT WANT TO GET INTO THESE EVENTS. AND WHEN WE ARE UNREGULATED MARKETPLACE, WE DO HAVE ALL THE SAFETY MEASURES IN PLACE AND THAT'S EXACTLY RIGHT. IF IF SOMEONE WHO IS DESPERATE TO GO TO THIS EVENT WANTED TO USE SOMEBODY ON THE STREET OR SOCIAL MEDIA. YOU'RE OUT OF LUCK. AND SO OBVIOUSLY EVERY SINGLE CUSTOMER THAT BOUGHT A TICKET ON OUR WEBSITES GOING TO GET THEIR MONEY BACK IN FULL RIGHT BUT YOU ARE A THIRD PARTY IN A SENSE TO THE TRANSACTION WERE JUST SIMPLY THE MARKETPLACE. >> SO JUST THINK OF US AS JUST THERE TO BAKE, MAKE SURE THAT EVERYTHING IS SAFE AND SECURE. SO WHEN WE STARTED STEP UP IN THE NET GO AHEAD AND YET, BUT WHEN I REMEMBER THE TAYLOR SWIFT CONCERTS IN AUSTRALIA, THE TAYLOR SWIFT CONCERTS IN THE UK, WHEN WHEN YOU START SEEING PRICES BECOMING OBSCENE MULTIPLES OF THE FACE OF THE TICKET, FACE DON'T GET ME WRONG. CAPITALIST FREE-MARKET MARKETPLACES. >> YEAH, I UNDERSTAND THAT. I JUST SORT OF THINK WHEN THE PRICE GETS, WHEN 100 BUCKS TICKET GETS TO 1,000, IS THERE SOMETHING WRONG? >> WELL, SO FIRST OF ALL, IT'S IMPORTANT TO LOOK AT THE ENTIRE MARKET AND TO UNDERSTAND HOW TICKETS ARE ULTIMATELY DISTRIBUTED INITIALLY. SO LOOK NO FURTHER THAN THE OLYMPICS NOW THE EMPTY SEATS AS GREAT AS THOSE GAMES ARE. THEIR SCORES AND SCORES OF EMPTY SEATS THAT AROUND. AND THIS IS REALLY ABOUT THE DISTRIBUTION OF THE TICKETS. NUMBER ONE IS, IS THAT BUYER BEHAVIOR ABOUT GOING TO THESE EVENTS, WHETHER IT'S A BUCKET LIST EVENT LIKE THE OLYMPICS OR TAYLOR SWIFT IN AUSTRALIA OR IN VIENNA OR ANY OTHER PLACE, YOU'RE NOT GOING TO CHANGE THAT BECAUSE THERE'S A PRICE CAP, BUT THEY ULTIMATELY THEY'RE GOING TO GO AND LOOK FOR THESE EVENTS WERE MERELY THERE JUST TO MAKE SURE THAT EVERYTHING IS SECURE AND EVERYONE GETS INTO THE EVENT. >> BUT THERE'S TWO THINGS HERE. YOU'VE GOT A QUESTION OF A PRICE CAP ON YOU, THEN YOU'VE GOT THE QUESTION OF IF YOU'D LIKE OR RESTRICTED DISTRIBUTION CHANNEL. IN OTHER WORDS, YOU CAN'T HAVE A RESALE. HOW MANY TIMES HAVE I SEEN ON TICKET JOE REGION? SALE WILL VOID THE TICKET, ET CETERA, ET CETERA. RIGHT? >> YEAH IT'S OLYMPICS IS A GREAT EXAMPLE OF WHERE THINGS ARE OVERLY RESTRICTED, RIGHT? >> AND SO YOU'VE GOT A CIRCUMSTANCE WHERE IT'S IN FRANCE, IT'S IN PARIS, IT'S, IT'S A GLOBAL DESTINATION WHERE MILLIONS AND MILLIONS OF PEOPLE WANT TO GO. AND UNFORTUNATELY, THEY HE DECIDED TO NOT OFFER RESELL SERVICE OR ALLOW THEM MARKET TO DO WHAT IT'S GOING TO DO. AND THAT DISINCENTIVIZES PEOPLE FROM ACTUALLY BUYING THE TICKET IN THE FIRST PLACE. IF THE TICKET ITSELF WAS ACTUALLY TRANSFERABLE OR RESETTABLE, THEN THAT GIVES HIM A LOT MORE COMFORT TO ACTUALLY MAKE THAT PURCHASE ON THE PRIMARY MARKET. >> SO WHAT RESTRICTIONS WOULD YOU ACCEPT AS BEING DESIRABLE ON RESALE AND TRANSFER TO PREVENT AGAIN, I'M TALKING ABOUT JERRY GERRYMANDERING THE FREE MARKET. BUT TO MAKE IT MORE ACCEPTABLE I, FIRST OF ALL, HAVING MORE TRANSPARENCY IN THE MARKET IS ENTIRELY IMPORTANT AND MAKING SURE THAT WE UNDERSTAND WELL HOW MANY EVENTS ARE ACTUALLY GOING ON SALE, HOW MANY TICKETS ARE ACTUALLY MAKING IT TO THE GENERAL PUBLIC? >> MOST OF THE TIME, IF YOU LOOK AT THE OLYMPICS, YOU DON'T EVEN KNOW HOW MANY TICKETS ARE ACTUALLY MAKING IT TO THE GENERAL PUBLIC. AND MOST OF THE TIME THESE HIGH DEMAND EVENTS, IT'S VERY, VERY LIMITED IN NATURE. SO MORE TRANSPARENCY, MORE INFORMATION AVAILABLE TO THE CONSUMER, SO THEY CAN MAKE THEIR DECISIONS FOR THEMSELVES. AND A LOT OF TIMES WHEN IT COMES DOWN TO PRICE, LET THE BUYER DECIDE IF THEY WANT TO MAKE THE DECISION TO GO TO AN EVENT AND SPADE A CERTAIN AMOUNT OF MONEY. >> DOPING, STOPPING RAMPANT SPECULATION THAT HE'S GOING TO PUSH PRICES HIGHER. THUS CUTTING OUT LEGITIMATE FANS ARE OR PEOPLE JUST WANT TO, WANT TO GO HOW TO STOP RAMPANT SPECULATION. >> YOU HAVE TO IN OUR POSITION, IT'S ULTIMATELY MAKING SURE THAT THE SECURITY IN ORDER HAS AROUND IT. SO YOU GOT TO MAKE SURE THAT THE MARKET ALLOWS DO WHAT IT DOES BECAUSE THE MOST IMPORTANT THING IS THE PRICES GO UP AND DOWN. IT'S VERY VOLATILE AND YOU HAVE TO WAIT AND SEE TO DETERMINE WHAT'S ULTIMATELY BEST FOR YOU. >> NUMBER ONE, NUMBER ONE TICKETS EVENT AT THE MOMENT, WHAT THE OLYMPICS DECIDE, WHAT'S THE NUMBER ONE TARGET EVENT AT THE MOMENT? >> IT'S, IT'