The European Commission reportedly investigating “dynamic pricing” amid Oasis tickets controversy

nme.com:

The Guardian, a spokesperson for the Commission, the main executive arm of the European Union, confirmed that it was investigating the use of dynamic pricing, with EU parliamentarians growing increasingly concerned amid the controversy over Oasis tickets since they went on sale on Saturday (August 31).The Commission confirmed it was looking into dynamic pricing as part of its “fitness check” of EU consumer laws, which is expected to highlight the issues surrounding the practice.

MEPs can then look at solutions, which could go as far as a ban.While the Commission spokesperson said the practice isn’t unlawful in itself, the way in which it was used here could breach EU directives – like if the price is increased after a consumer already places the ticket in their online basket, or if companies don’t give fans “necessary material information” about the tickets before they’re purchased.The Dutch MEP Lara Wolters told The Guardian she wanted new legislation introduced to protect consumers against dynamic pricing, saying: “The only winners in this situation are big ticketing platforms, at the expense of fans who find themselves priced out of gigs.

Companies know far more about their customers than vice versa.“This is not a system that seeks to maximise joy by filling the stadium with an artist’s biggest fans, but to maximise profit from music like any other product.”It said Ticketmaster might have breached laws in the UK by raising the prices of some Oasis tickets from £135 to £350.

For its part, the company has compared its use of dynamic pricing to airlines and hotels, which increase costs based on demand, and claimed that the prices are set by artists and their management themselves – Oasis and their management have not.