U.K. competition watchdog probing use of 'dynamic pricing' in Oasis ticket debacleThe U.K.'s competition watchdog said on Thursday it was looking into the use of dynamic pricing in the Aug. 31 sale of Oasis concert tickets, keeping all potential action options open. Thousands of Oasis fans waited long hours in virtual queues this weekend to get their hands on tickets for the British band's reunion shows next summer, only to find that prices had been hiked as part of a "dynamic pricing" scheme. The Competition and Markets Authority (CMA), in a letter to the government, said businesses that use dynamic pricing or other complex pricing systems need to be transparent about how prices are set and not mislead customers. The regulator also added that it does not think ongoing issues can be tackled effectively by the CMA using its existing toolkit. Ticketmaster, the official ticketing partner for the concerts, did not immediately respond to a Reuters request for comment on the CMA's statement. Britain's government earlier this week said it would investigate how concert ticket prices on official websites are hiked during high-demand periods. Oasis announced its reunion shows in the U.K. and Ireland, starting in Cardiff, Wales, in July 2025, followed by performances in Manchester — where the band was formed in 1991 — London, Edinburgh and Dublin. Source link Posted: 2024-09-05 15:29:59 |
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