Ticketmaster’s controversial “dynamic pricing” model, which drastically raises ticket prices in line with demand, faces scrutiny from European regulators after complaints about astronomical Oasis ticket prices. Both the European Commission, which represents the European Union, and the United Kingdom’s Competition and Markets Authority (CMA) have said that they are investigating whether they can ban or limit the practice after fans complained of extortionate prices for Oasis reunion dates.
Keir Starmer, the United Kingdom’s prime minister, called the practice “depressing” and noted that a regulatory body was launching an “urgent review.” Similar to the debacle around Taylor Swift’s Eras Tour, British fans complained of site crashes and several-hour-long queues, sometimes protracted when they were mistaken for bots and kicked out.
Though dynamic pricing is currently legal, Lara Wolters, a Dutch member of the European Parlimanet, told The Guardian that she would pursue new laws to protect European consumers. “The only winners in this situation are big ticketing platforms, at the expense of fans who find themselves priced out of gigs,” she said. “This is not a system that seeks to maximise joy by filling the stadium with an artist’s biggest fans, but to maximise profit from music like any other product. As a music fan, I find this soulless and I want to put a stop to it, so I’m pleased to see the UK government is looking into this, and I expect the new European Commission to follow suit so we can finally bring in new rules against unfair ticketing.”
Ticketmaster compares dynamic pricing to how sales of hotel rooms and air fares operate, and says prices are set by artists and management, The Guardian reports. A spokesperson for CMA said, “Consumer protection law requires businesses to be fair and transparent in their dealings with consumers, and businesses must give clear and accurate information about the price people have to pay. Failure to do so may breach the law.” Many Oasis ticket-buyers complained that prices raised many times above the initial value were not revealed until they reached the checkout.
In late 2022, around the time Taylor Swift announced the Eras Tour, the European Union introduced the Digital Services Act to tackle touting, requiring resellers to provide proof of identification and contact information and to publicly identify themselves. The United States Justice Department is currently suing Ticketmaster owner Live Nation Entertainment, alleging that the company holds a monopoly in the concert market.
Source : Pitchfork
