A Case Study in Ticketmaster Price Gouging aka Dynamic Pricing: SoylentNews Submission

A Case Study in Ticketmaster Price Gouging aka Dynamic Pricing

Accepted submission by canopic jug at 2024-09-12 08:30:09 from the Manchester-England-not-Manchester-Michigan dept.

canopic jug [soylentnews.org] writes:

Several sites have covered the dynamic pricing scandal concerning Tickemaster's sales of tickets to the Manchester based English rock band Oasis [bbc.com]' reunion tour. Aside from the problems of the monopoly maintained by Ticketmaster, and aside from the problem of ticket scalping which is encouraged by Ticketmaster's business model, the dynamic pricing has come across as price gouging and a possible breach of consumer law [which.co.uk]. The Competition and Markets Authority is now launching an investigation [variety.com] into if or how much Ticketmaster engaged in unfair, prohibited commercial practices.

Some fans paid more than £350 for tickets [theguardian.com] with a face value of less than £150, and had to make a split-second decision [theguardian.com] whether to complete their purchase, as dynamic pricing caused prices to soar [theguardian.com] during the booking process.

Lisa Webb, a consumer law expert at Which?, said: “It seems extremely unfair that Oasis [theguardian.com] fans got up early and battled through queues only to find that ticket prices had more than doubled from the originally advertised price.

“Oasis and Ticketmaster should do the right thing and refund fans who may have been misled into paying over the odds for tickets that would have been half the price just hours earlier.”

— Oasis and Ticketmaster urged to refund fans after ‘dynamic pricing’ debacle [theguardian.com], The Guardian.

This has forced the band to issue a press release distancing the band from Ticketmaster and its practices.

The band released a statement on Wednesday evening denying they were behind the dynamic pricing.

"It needs to be made clear that Oasis leave decisions on ticketing and pricing entirely to their promoters and management, and at no time had any awareness that dynamic pricing was going to be used," said the statement.

It said that "meetings between promoters, Ticketmaster and the band's management" had resulted in an agreement to use dynamic pricing "to help keep general ticket prices down as well as reduce touting".

However, "the execution of the plan failed to meet expectations".

— UK launches investigation into Ticketmaster's pricing for Oasis reunion tour [france24.com], France24.

Also at:

U.K. is investigating Ticketmaster after Oasis tour prices surprised fans [npr.org], NPR.

Oasis fans' fury over 'in demand' tickets as prices rocket - as Ticketmaster issues statement [manchestereveningnews.co.uk], Manchester Evening News.

Ticketmaster’s Dynamic Pricing Faces U.K. Government Investigation After Oasis Reunion Tour Sale [rollingstone.com], Rolling Stone.

Oasis ticketing chaos prompts probe into dynamic pricing [theverge.com], The Verge.

Hundreds lodge complaints over Oasis ticket prices [bbc.co.uk], BBC.

Oasis Says Ticketmaster & Management Are Responsible for High Ticket Prices [digitalmusicnews.com], Digital Music News.

Ticketmaster Officially Faces CMA Investigation Over Oasis Ticket Prices — As the Regulator Also Scrutinizes Dynamic Pricing’s ‘Broader Competition and Consumer Issues’ [digitalmusicnews.com], Digital Music News.

Oasis Fans Complain Of Ticketmaster Errors, Long Waits & Price Surges For Reunion Tour [deadline.com], Deadline.

Oasis Fans Face Crashes, Bots and Dynamic Pricing as Reunion Tickets Go On Sale [rollingstone.com], Rolling Stone.

Oasis fans react to Ticketmaster’s dynamic pricing [nme.com], NME.

What is dynamic pricing and how does it work? [irishexaminer.com], Irish Examiner.