(qlmbusinessnews.com Fri. 6th Sept, 2024) London, UK —
UK Competition Authority Investigates Oasis Ticket Sales Over ‘Dynamic Pricing' Concerns
The UK’s Competition and Markets Authority (CMA) has launched an inquiry into the sale of tickets for the highly anticipated Oasis reunion tour, focusing on the controversial use of “dynamic pricing”. The investigation will determine whether Ticketmaster, the platform responsible for selling tickets to the tour, has breached consumer protection laws.
Dynamic pricing, a strategy where prices fluctuate based on demand, has been at the centre of criticism from Oasis fans who claim they paid far more than expected for tickets. Prices reportedly reached up to £350 per ticket, roughly £200 more than initially advertised.
The CMA's investigation aims to examine whether Ticketmaster engaged in unfair business practices, provided buyers with clear information that ticket prices could rise, and whether customers felt pressured to complete their purchases within a short timeframe.
The CMA, which is in the initial stages of its inquiry, plans to gather evidence from various sources, including Ticketmaster, Oasis' management, and event organisers. A CMA spokesperson clarified that no assumption should be made that Ticketmaster has broken consumer protection laws, but added that the probe could expand to include other parties involved.
Ticketmaster has stated its commitment to cooperating fully with the investigation and expressed confidence that it will be able to clarify the circumstances around the ticket sales. The company maintains that it does not control ticket pricing policy, which is set by artists and their promoters. However, reporters have pointed out that all three promoters for the Oasis reunion tour are linked to Live Nation, the parent company of Ticketmaster.
CMA Chair Marcus Bokkerink and Chief Executive Sarah Cardell have made it clear that all possible actions remain on the table, including enforcement measures if evidence of legal breaches is found. Meanwhile, the CMA has invited fans to provide evidence of their experiences, such as screenshots of the ticket purchase process, to aid the investigation.
The debate over dynamic pricing has been reignited in recent weeks, with many fans voicing their frustrations at being charged significantly more than expected. One fan, John, expressed his dismay after spending six hours in a virtual queue only to be offered tickets for £355 each. “I find that just disgraceful,” he said, adding that he felt the band had broken its connection with their working-class roots.
Oasis, who have distanced themselves from the ticketing process, recently announced two additional dates at Wembley, with tickets available through a “staggered invitation-only ballot”. The band has stated that all decisions regarding ticketing and pricing are handled by their promoters and management.
The issue of dynamic pricing has drawn comparisons to a similar situation in the United States last year, when Ticketmaster faced a US Senate hearing following its mishandling of ticket sales for Taylor Swift's Eras Tour. Thousands of fans were unable to secure tickets due to a bot attack, prompting Ticketmaster's parent company, Live Nation, to promise improvements.
Critics argue that Ticketmaster, which merged with Live Nation in 2010, holds too much power over the live music market, driving up costs with additional fees and service charges. The CMA's findings could have significant implications for the future regulation of ticket sales in the UK.
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