Ticketmaster has agreed to changes highlighted by a UK watchdog investigation which found that the ticketing company needed to adopt greater transparency in how tickets are priced and sold.
The decision comes after a year-long investigation by the Competition and Markets Authority (CMA) into how Ticketmaster operated its Oasis ticket sales and its dynamic pricing model. Dynamic pricing refers to the process of how ticket price is directly related to fan demand.
The CMA found no evidence that ticket prices were adjusted in real time through algorithmic dynamic pricing during the Oasis ticket sale. Following the investigation, the ticketing company has also agreed to make key changes to how it sells tickets in the future.
The investigation found that some fans who opted for ‘platinum’ tickets were being sold at 2.5 times the price of a standard ticket. This is despite the platinum tier offering no additional benefits for fans.
As quoted from the CMA findings, which can be read in detail here, the watchdog has confirmation from Ticketmaster that the company will:
- Tell fans 24 hours in advance if a tiered pricing system is being used (as it was for Oasis standing tickets). This means fans will know beforehand if there are multiple prices for the same type of ticket, and that more expensive ones will be released once the cheapest sell out.
- Provide more information about ticket prices during online queues, helping fans anticipate how much they might have to pay. This includes setting out the range of prices available for the event when people join the queue and updating fans swiftly when the cheaper tickets sell out. Additional information to help fans make the best decisions for them will also be given about the prices of tickets sold using tiered pricing.
- Not use any misleading ticket labels. Ticketmaster will ensure that tickets are described accurately and do not give the impression that one ticket is better than another when that is not the case.
- Provide regular reports to the CMA. Ticketmaster will regularly report how it has implemented the undertakings over the next 2 years to ensure robust compliance. Failure to take forward these measures could result in enforcement action.
The CMA also stated that “these measures send a clear message to all ticketing websites that fans must have access to clear and timely pricing information with accurate ticket descriptions, especially where there are different pricing models and queues in play.”
A spokesperson for Ticketmaster said in a statement: “We welcome the CMA’s confirmation there was no dynamic pricing, no unfair practices and that we did not breach consumer law.
To further improve the customer experience, we’ve voluntarily committed to clearer communication about ticket prices in queues.
This builds on our capped resale, strong bot protection, and clear pricing displays – and we encourage the CMA to hold the entire industry to these same standards.“
