Ticketmaster under investigation over Oasis reunion tickets
LONDON — The U.K.'S competition watchdog has launched an investigation into the way more than one million tickets were sold for next year's reunion concerts from iconic 1990s Britpop band Oasis.
In a statement Thursday, the Competition and Markets Authority (CMA) said its investigation into
Live Nation Entertainment's unit Ticketmaster will look specifically at “dynamic pricing,” whereby prices can vary rapidly in light of changing market conditions.
It is a pricing strategy used in flight sales and home food deliveries, where demand levels can fluctuate and lead to surging prices while also sometimes leading to lower prices. It is a more common practice in the U.S. than in the U.K.
Many Oasis fans who queued online at the Ticketmaster site for hours Saturday complained that they ended up paying more than double the face value of the ticket as a result of dynamic pricing, with standard standing tickets often sold for 355 pounds ($470) as compared to the expected 148 ($195).
Critics said it was deceptive and inappropriate to use dynamic pricing for the concerts given that it was well-known in advance that demand for the fixed number of tickets would be sky-high.
The CMA said it would scrutinize whether Ticketmaster, the U.K.'S biggest seller of tickets, may have engaged in unfair commercial practices and whether it breached consumer protection law. The probe will look at whether consumers were told in a clear and timely way that the tickets could be subject to dynamic pricing, and whether they were put under pressure to buy tickets within a short period of time — at a higher price than they understood they would have to pay.
“It's important that fans are treated fairly when they buy tickets, which is why we've launched this investigation,” said Sarah Cardell, the watchdog's chief executive. “It's clear that many people felt they had a bad experience and were surprised by the price of their tickets at check-out.”
The organization wants to hear from fans who encountered issues, and will seek evidence from Ticketmaster and others, which may include the band's management and event organizers. It said it can implement enforcement if it sees evidence of possible breaches of the law.
The controversy also has prompted some lawmakers in Ireland, where the band are due to perform, to launch a bid to ban dynamic pricing in the sale of tickets.