Brussels – The Oasis reunion was an event expected by all their fans. What was surprising was the steep increase in ticket prices due to “dynamic pricing.”
Dynamic pricing allows the price to be adjusted according to demand, clearly upward. It is a practice widely used by airlines and hotel chains, but it is also spreading to cultural or musical events, as in this case. Consumers after hours in a line saw prices for Oasis concerts in Manchester quadruple from €96.50 to over 400.
PD MEPs Brando Benifei and Pierfrancesco Maran, members of the Internal Market Committee, spoke on the issue in a question to the European Commission about this practice used by the US retailer Ticketmaster.
The two MEPs’ arguments concern the detriment to consumers of dynamic pricing since this practice risks making it inaccessible for most to enjoy these events. The Commission has been asked whether it considers the price adjustment system used by the platforms to be in line with consumer protection regulations and whether there is any intention for action to limit the use of these price adjustments. They also questioned the possibility that this is contrary to the principles of “fairness and accessibility on which the single market is based”, elements that should be considered for future intervention on the platform.
English version by the Translation Service of Withub
