[Susan Foreman]

Originally Posted by Nosferatu@Cult Labs

It seems that a big problem with recent exorbitant prices has been dynamic pricing, a new concept to me, and one which could easily see people pay much more than expected or originally budgeted for.

Imagine going to the cinema with your family where there is a screening of a popular film from the 1990s, such as Titanic or Jurassic Park, and it is advertised with tickets costing $10.

The people at the front of the queue paid $10 but, as the queue gets longer, people start being charged $12, then $15, then $20. By the time you get to the front, tickets are $75 and you would still like to buy some popcorn.

It doesn't seem at all fair to rapidly escalate prices when there is high demand and force people to decide between missing out on a concert they would love and facing financial hardship by buying a ticket, with the cost for a family with transport and accommodation running to thousands of pounds.

How much money do best selling musicians, whether Oasis or Taylor Swift, really need?

What is dynamic pricing and how does it work? / Reuters

"WHAT IS DYNAMIC PRICING?
Dynamic pricing, also known as surge pricing, is a strategy in which businesses push up prices at times of high demand. This is commonly seen in airline ticket prices and hotel room rates during holiday seasons, as well as Uber surge pricing during peak traffic hours.

WHO IS RESPONSIBLE FOR DYNAMIC PRICING?
Ticketmaster has said that for concert tickets, artists or promoters are responsible for determining the number of tickets and set the face value price of tickets. They can opt for dynamic pricing if they want and it is implemented once Ticketmaster gets their approval.

IS DYNAMIC PRICING LEGAL?
While dynamic pricing might seem unfair to customers, it is considered legal as long as the company follows laws and regulations related to pricing transparency, consumer protection and fair competition.

WHY WAS IT INTRODUCED?
Ticketmaster first introduced dynamic pricing in 2022, saying the practice was being used to try to stop touts, according to the BBC. Touts are people who acquire multiple tickets to sell them off at a profit later.

In Britain, marketplace Viagogo and StubHub are the two main secondary ticketing websites. Ticketmaster shut down its resale sites, GetMeIn and Seatwave, in 2018 after persistent criticism of ticket reselling by touts.

WHICH ARTISTS HAVE OPTED IN OR OUT OF DYNAMIC PRICING?
Dynamic pricing had been used in the UK for sales by Harry Styles, Coldplay and Blackpink, according to the BBC. Bruce Springsteen gave Live Nation the green light to introduce dynamic pricing for his tour dates last year, the BBC said. However, Taylor Swift chose to opt out of using dynamic pricing on her 'Eras Tour'.

HOW ARE GOVERNMENTS RESPONDING TO THE OASIS TICKET SALE?
Britain's government said on Sunday it would investigate how prices for concert tickets sold on official websites are hiked when demand surges, after the Oasis ticket sale.

The government will include issues around the transparency and use of dynamic pricing in an already planned review of ticket sales and the protection of consumers.

"The Competition and Markets Authority is urgently reviewing recent developments in the ticketing market, including the way dynamic pricing is being used in the primary market," Britain's antitrust regulator said on Sept. 3.

Dublin MEP Regina Doherty has called for an investigation into Ticketmaster by Ireland's Competition and Consumer Protection Commission (CCPC).

The CCPC believes there are legitimate concerns around the consumer experiences this weekend and is reviewing the situation, a spokesperson said. It will consider all options to ensure consumer protection law is followed.

Another Irish MEP, Cynthia Ni Mhurchu, said she would call for the European Commission to investigate the situation. She is a member of the EU Parliament's Internal Market and Consumer Protection (IMCO) committee.

WHAT ARE OTHER GOVERNMENT STANCES ON DYNAMIC PRICING?
For years, concert fans and politicians have been calling for a re-examination of Live Nation's purchase of Ticketmaster in 2010.

That intensified after the ticket seller in 2022 botched sales for Taylor Swift's first concert tour in years, sending fans into hours-long online queues and charging prices that customers said were too high.

The U.S. Department of Justice filed an antitrust suit against Live Nation and its ticket selling unit Ticketmaster in April for allegedly monopolizing markets across the live concert industry.

Last year, the European Commission said it was monitoring dynamic pricing, emphasising that EU law prohibits dominant companies from imposing excessively high prices."