Updated 12:10pm
Ticketmaster has announced that it is shutting down its ticket reselling sites.
No new events will be listed on the sites Seatwave or Get Me In! from today.
The decision comes ahead of legislation being planned here to tackle ticket touting.
The company has announced plans to launch a 'fan-to-fan' ticket exchange, where people will be able to buy or sell tickets at the original price or less.
A new fan-to-fan ticket exchange will launch in Ireland and the UK in October.
It will not be possible to resell tickets above face value on the new site. There will, however, be a 15% surcharge on each transaction. @NewstalkFM
— Jess Kelly 👩ðŸ»ðŸ’» (@jesskellynt) August 13, 2018
The new service will be launched in October for Ireland and the UK, before being expanded to Europe next year.
Keith English, Managing Director of Ticketmaster Ireland, said: “Closing Seatwave and creating a new ticket exchange has always been part of Ticketmaster’s long-term plan. It’s not just in Ireland, it is happening across Europe.
"We are aware that fans are tired of seeing others snap up tickets just to resell for a profit on secondary websites, so we have decided to take action."
Seatwave has provoked significant controversy in Ireland, with tickets for sold-out concerts often appearing at inflated prices.
Legislation
Last month, the Government agreed on legislation to tackle ticket touting, and are set to back an amended version of a bill put forward by Noel Rock and Stephen Donnelly.
The proposed law would ban the above-face value re-sale of tickets for events in designated venues with a capacity of 1,000 or over.
It would also ban the use of software to purchase tickets in excess of the number permitted by organisers.
Deputy Rock, who has been outspoken against ticket touting, suggested "Monday is off to a fairly flying start" with the news of Seatwave's imminent closure.
He also claimed it's 'no coincidence' the closure comes in the wake of Cabinet approval of ticket touting laws.
In a statement, he said: “Ticketmaster’s conversion to my point of view on the scourge of touting is better late than never. Stamping out ticket touting is good news for matchgoers, concert goers and consumer protection in general.
“I am satisfied to see this news, but fully intend to see [...] legislation through to conclusion so that such operations are never able to spring up again.”
