UK launches probe into Ticketmaster over Oasis shows
Use of dynamic pricing eyed
Hours spent in virtual queues
Prices more than doubled
Adds Ticketmaster statement in paragraph 8
By Radhika Anilkumar and Catarina Demony
LONDON, Sept 5 (Reuters) -Britain's competition watchdog on Thursday launched an investigation into Ticketmaster over the sale of Oasis tickets, including the use of "dynamic pricing" to hike the cost to fans at the last minute.
Thousands of fans waited long hours in virtual queues last weekend to get their hands on tickets for the British band's reunion shows next summer, only to find that prices had jumped in a "dynamic pricing" scheme.
Many thought they would pay the advertised rate of 148.50 pounds ($195.10) but ended up paying more than double at 355.20 pounds.
The Competition and Markets Authority said it was scrutinising whether the sale of Oasis tickets by Ticketmaster, the official ticketing partner for the concert, may have breached consumer protection law.
It said it would examine if Ticketmaster had engaged in "unfair commercial practices," if fans were given "clear and timely" information to explain tickets could be subject to "dynamic pricing" and if people were put under pressure to buy tickets within a short period of time.
The CMA said it should not be assumed that Ticketmaster had broken consumer protection laws.
As part of the probe, fans were being asked to submit evidence of their experiences.
A Ticketmaster spokesperson said the company was "committed to cooperating with the CMA and look forward to sharing more facts about the ticket sale with them".
In a statement issued to PA Media, and cited by the BBC, Oasis said decisions on ticketing and pricing were the responsibility of promoters and management.
Oasis "at no time had any awareness that dynamic pricing was going to be used" in the sale of tickets for the initial dates, the band said.
Britain's government earlier this week said it would investigate how concert ticket prices were hiked during high-demand periods. A spokesperson for Prime Minister Keir Starmer said the government welcomed CMA's review and awaits its conclusions.
According to the CMA, "dynamic pricing" has become increasingly prevalent across a number of different markets.
"This is not the first time it has raised concerns among fans of live sporting and music events," it added.
Oasis initially announced 14 shows, with the first due to take place in Cardiff in July 2025, followed by nights in Manchester – where the band was formed in 1991 – London, Edinburgh and Dublin.
Oasis added three UK dates last week with extra concerts in Manchester, London and Edinburgh. It added on Wednesday two more concert dates in London due to "phenomenal demand."
Reporting by Radhika Anilkumar in Bengaluru and Catarina Demony in London; Additional reporting by Elizabeth Piper; Editing by Alan Barona, Vijay Kishore, Paul Sandle, Jan Harvey and Mark Porter
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
