Ticketmaster under scanner in UK over surge pricing model

Ticketmaster, the global ticketing giant, is facing scrutiny from the UK government over its controversial dynamic pricing model. The move comes after millions of Oasis fans encountered significant price hikes while attempting to purchase tickets for the band’s highly anticipated reunion tour. Here’s one of the hundreds, if not thousands, of posts highlighting the concern on X:

Culture Secretary Lisa Nandy has reportedly pledged to investigate the issue, responding to widespread complaints from fans who saw ticket prices surge dramatically during the purchasing process. In some instances, standing ticket prices jumped from £135 to £337.50, leaving many fans frustrated and unable to complete their purchases.

The ticketing chaos caught the attention of government officials when countless fans reported being stuck in hours-long virtual queues, only to find inflated prices once they finally reached the checkout. Nandy expressed concern over the situation, stating it was “depressing to see vastly inflated prices excluding ordinary fans from having a chance of enjoying their favorite band live.”

In response to the outcry, the UK government has announced plans to include dynamic pricing in its upcoming consultation on consumer protections for ticket resales. Nandy emphasized the government’s commitment to creating a fairer system, saying, “We will include issues around the transparency and use of dynamic pricing, including the technology around queueing systems which incentivize it, in our forthcoming consultation.”

The investigation aims to address not only the pricing model but also the broader issues of ticket touting and resale markets. With some resale sites listing Oasis tickets for nearly £6,000, the government is keen to explore ways to protect consumers from what Nandy called “the scourge of touts” and “rip-off resales.”

Ticketmaster, for its part, maintains that it doesn’t set prices itself, stating that pricing decisions are made by event organizers and promoters. However, the company’s role in implementing dynamic pricing systems has drawn criticism from fans and artists alike.

This isn’t the first time Ticketmaster has faced government scrutiny. In the United States, the company is currently embroiled in an antitrust lawsuit filed by the Justice Department, which alleges that Ticketmaster’s parent company, Live Nation, holds an unlawful monopoly over the live entertainment industry.

As the UK government prepares to launch its consultation this fall, all eyes will be on the outcome. We’ll be monitoring the situation and will share updates on the matter as the situation develops. So stay tuned to Tech Issues Today for more details.