Dynamic pricing has come for nearly every industry much to the dismay of consumers. Yet when it comes to concert tickets, fans, AND government officials are fed up.
When Oasis announced their reunion tour, fans were thrilled…
Before they realized that Ticketmaster’s dynamic pricing ruined the ticket-buying experience.
Here’s the full story.
How Dynamic Pricing Inflated Oasis Ticket Costs
After 15 years of waiting, Oasis fans finally got the reunion tour they’d been waiting for. As one of the most popular bands from the 90’s when news broke of their reunion…
Fans flocked en masse to buy their tickets.
Only what was meant to be an easy ticket-buying experience…
Turned out to be more complicated and frustrating than anyone anticipated.
Once fans landed on Ticketmaster to buy their concert tickets, they were met with extremely long queues…
AND DYNAMIC PRICING WHICH BALLOONED THE INITIAL PRICES WELL BEYOND WHAT THEY WERE ORIGINALLY ADVERTISED AS.
As more and more fans called out Ticketmaster for its use of dynamic pricing, the company stated that its form of pricing is not unusual. According to Ticketmaster’s website…
ARTISTS AND SHOW PROMOTERS SET THE TICKET PRICES AT EITHER A FIXED RATE OR MARKET-BASED RATES. THE MARKET RATE IS WHAT’S RESPONSIBLE FOR DYNAMIC PRICING AMONG CONCERT TICKETS.
In response to the outrage surrounding the ticket prices…
The UK’s Competition and Markets Authority has announced that it’s opening an investigation into Ticketmaster…
For the company’s use of dynamic pricing.
The CMA is questioning whether Ticketmaster breached consumer safety laws. Most notably, the investigation determines whether the company willingly deceived excited fans for their own gain.
Ultimately when the investigation is over…
The CMA will know whether Ticketmaster pressured fans to buy tickets with inflated dynamic pricing.
The organization encourages fans to come forward with their ticket-buying experiences.
Yet this is not the first time Ticketmaster landed in hot water due to their pricing habits.
Ticketmaster’s Rough Year
Ticketmaster, and it’s owner, Live Nation are some of the biggest entities in the concert industry. They have an immense amount of control over every aspect of their industry, from the venues, to artists, to fans.
SO THE FIASCO SURROUNDING OASIS AND THE DYNAMIC PRICING TICKETS IS NOT UNHEARD OF FOR THE TICKETING SERVICE…
In fact, it is another mess in a long line of missteps which has so many governments around the world keeping an eye on the company.
Some artists have such massive followings that they create concert economies whenever they go on tour, Oasis included…
But after a spectacularly botched ticketing experience for the Taylor Swift Eras tour…
The U.S. government is looking to trustbust the company and it’s owner.
This antitrust lawsuit filed by the Department of Justice alleges that Ticketmaster drowns fans in endless fees…
THANKS TO THEIR TICKETING POLICIES AND DYNAMIC PRICING.
It’s safe to say that if the ticketing service doesn’t clean up its act…
It won’t just be Oasis fans abandoning the platform.
Be Great,
GCTV Staff
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