It's not just Taylor Swift fans and the US government. The UK government is set to investigate the company's dynamic pricing model after millions of Oasis fans rushed to get tickets for the band's reunion tour over the weekend.
Once fans had waited through long lines to make their purchases, some discovered that the price of a standing-room only ticket was suddenly 2.5 times higher. —in one case, going from £135 to £337.50 ($177 to $444). Ticketmaster typically gives customers just a few seconds to decide whether to complete a purchase once tickets are in their cart, so they don’t have much time to determine whether such a hefty price increase is worth it.
Many fans were unable to secure Oasis tickets before they sold out on Ticketmaster, so if they really want to see Liam and Noel Gallagher together on stage for the first time in 16 years, they may have to turn to resale sites where some scalpers are attempting to sell tickets for nearly $8,000 each.
The chaos and complaints about the dynamic pricing model caught the attention of Lisa Nandy, the UK's culture secretary. Nandy said it was “depressing to see hugely inflated prices excluding ordinary fans from having the chance to enjoy their favourite band live,” according to .
“This government is committed to putting fans back at the heart of music. That’s why we will include issues around transparency and the use of dynamic pricing, including technology around queuing systems that incentivise this, in our upcoming consultation on consumer protections for ticket resale,” said Nandy. “By working with artists, the industry and fans, we can create a fairer system that ends the scourge of scalpers and fraudulent resellers and ensures tickets are fairly priced.”
Before the Labour Party won the July general election, leader Sir Keir Starmer limiting ticket resale prices for musical and sporting events. The government x.com/biztradegovuk/status/1824373659198161217″ rel=”nofollow noopener” target=”_blank” data-ylk=”slk:announced;elm:context_link;elmt:doNotAffiliate;cpos:6;pos:1;itc:0;sec:content-canvas”> A consultation on the secondary ticket market will be held this autumn and the issue of dynamic pricing will now be taken into account.
Ticketmaster doesn’t set prices itself. The company said that’s a decision for event organizers. In other words, promoters. But artists have a say, too. Swift, Ed Sheeran and The Cure are among the big names who have opted not to use dynamic pricing on recent tours. Bruce Springsteen, however, caused a stir in 2022 when he said he would use the model.
Meanwhile, Ticketmaster is in trouble in the United States. In May, the Justice Department and dozens of state and district attorneys general filed an antitrust lawsuit in an attempt to , alleging it held an illegal monopoly over the live entertainment industry.
