Dynamic pricing to be examined by European Commission after backlash over price of Oasis tickets
4 September 2024, 15:23 | Updated: 4 September 2024, 16:11
Surge pricing based on demand is set to be examined by the European Commission amid a backlash to Oasis concert prices soaring due to the practice.
Listen to this article
Loading audio...
Some fans of the rock band were shocked by standard tickets for their 2025 reunion tour more than doubling from £148 to £355 on Ticketmaster last weekend, prompting the Government and the UK's competition watchdog to pledge they will look into the use of dynamic pricing.
Ticketmaster has said it does not set concert prices and its website states this is down to the "event organiser" who "has priced these tickets according to their market value".
The practice of increasing or decreasing prices based on demand has been compared to the way in which airline tickets and hotel rooms are sold.
An acting spokesman for the European Commission confirmed it is working on a "fitness check" of EU consumer law on digital fairness, which it plans to adopt this autumn.
The use of dynamic pricing will be part of this review, the PA news agency understands.
The digital fairness "fitness check" was launched in spring 2022 to "establish whether additional legislation or other action is needed in the medium term to ensure equal fairness online and offline".
The long-awaited Oasis reunion tour has attracted huge attention from fans because it will see the Manchester-formed Britpop band on stage together for the first time since their major split in 2009.
On August 31, they revealed the general sale tickets for their forthcoming 17 UK and Ireland gigs had sold out in less than a day, but many fans missed out as they battled website issues and being mislabelled as bots.
Other international dates are still to be announced, but no more UK shows will be added to their tour, PA understands. Following the ticket furore, the Advertising Standards Authority (ASA) received 450 complaints about Ticketmaster adverts for the Oasis gigs.
A spokesman for the UK's regulator of advertising said the complainants argue that the adverts made "misleading claims about availability and pricing".
It is believed the ticket prices for the Oasis gigs were set by promoters including SJM Concerts, MCD and DF Concerts & Events.
Prime Minister Sir Keir Starmer said the Government will get a "grip" on the issue of surge pricing and that it is seeking consultation on the issue.
During Prime Minister's Questions on Wednesday, Labour MP Emma Foody asked Sir Keir if he agrees that urgent action is needed to protect fans, to which he replied: "Yes, I do. Firstly, it's great that Oasis are back together.
"I think, from what I've determined, about half the country were probably queuing for tickets over the weekend but it is depressing to hear of price hikes.
"I'm committed to putting fans at the heart of music and ending extortionate price resales, and we're starting a consultation to work out how best we can do this."
It came after Culture Secretary Lisa Nandy released a statement on Sunday calling the "inflated prices" of Oasis tickets "incredibly depressing".
She added: "This Government is committed to putting fans back at the heart of music.
"So we will include issues around the transparency and use of dynamic pricing, including the technology around queuing systems which incentivise it, in our forthcoming consultation on consumer protections for ticket resales."
The Competition and Markets Authority (CMA) has said it is "urgently reviewing" the ticketing market and that it is looking forward to working with the Government on the issue.
A spokesman said: "The CMA is urgently reviewing recent developments in the ticketing market, including the way dynamic pricing is being used in the primary market.
"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.
"The CMA wants fans to get a fair deal when they buy tickets.
"We have already acted against major resale websites on the secondary market to ensure consumer law is being followed.
"But we think more protections are needed for consumers here and made recommendations to the previous government in 2021 about the changes that are needed.
"It is positive that the Government now wants to address this.
"We look forward to working with them to get the best outcomes for fans and fair-playing businesses."
