London (AFP) – US ticket sales giant Ticketmaster has agreed to make its pricing more transparent following widespread anger over the exorbitant costs paid by some fans for the Oasis reunion tour, Britain’s competition watchdog said Thursday. The Competition and Markets Authority launched an investigation into the company last year over concerns that it had misled fans into buying costly tickets.
Ticketmaster promised to give clearer information on ticket prices and not to use misleading labels, the CMA said in a statement Thursday. “The changes we’ve secured will give fans more information about prices and clear descriptions of exactly what they are getting for their money,” said CMA chief executive Sarah Cardell. “If Ticketmaster fails to deliver on these changes, we won’t hesitate to take further action,” she added.
Ticketmaster has been the object of anger and frustration from both artists and spectators for decades, with concertgoers complaining about overpriced tickets, opaque pricing schemes, and technical glitches. Last week, top US regulator the Federal Trade Commission sued Ticketmaster and its parent company Live Nation, alleging the firm conspired with brokers to inflate concert ticket prices and deceive consumers with hidden fees.
The UK investigation came after complaints that Ticketmaster had sold so-called platinum tickets that offered no additional benefits. The firm also did not tell consumers that there were two categories of standing tickets at different prices, with the more expensive ones released when the cheaper ones had sold out. This resulted in fans waiting in lengthy online queues only to find prices jumped far higher than they expected.
The CMA did not find evidence that Ticketmaster used dynamic pricing, where prices are adjusted in real-time in line with demand. The chaotic scramble for the prized tickets followed the announcement in August 2024 that brothers Noel and Liam Gallagher had ended their infamous 15-year feud and were reuniting for a worldwide tour. The Britpop band kicked off a worldwide tour in July, and Ticketmaster sold more than 900,000 tickets for the gigs.
© 2024 AFP
