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Oasis Ticket Price Surge Sparks Urgent Calls for Dynamic Pricing Reform

By  |  September 29, 2024
Today in Data: Retail in the Ticketing Landscape

Kerry Fine Gael MEP has voiced urgent concerns over the practice of dynamic pricing in ticket sales, a system where prices fluctuate in real-time based on demand. This plea follows widespread outrage from fans after ticket prices for Oasis concerts at Croke Park soared from €100 to €400 within hours. The former GAA president, Sean Kelly, underscored the detrimental effects of such pricing strategies on consumers and Ireland’s reputation, advocating for equal ticket prices regardless of when they are purchased.

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    According to a Radio Kerry report, Kelly has proposed two key measures aimed at addressing this issue. He calls on the Gaelic Athletic Association (GAA) to enforce stricter ticketing regulations to prohibit dynamic pricing at events held in their venues. This initiative comes at a time when European Union lawmakers are increasingly backing the demand for new regulations on dynamic pricing for online goods, prompted by complaints from Oasis fans about exorbitant ticket prices for upcoming reunion shows in the UK and Ireland.

    Last month, thousands of fans faced lengthy waits in virtual queues, only to discover that prices had dramatically inflated at checkout. This backlash has led to investigations into Ticketmaster, the official ticketing partner for the concerts, by regulators in Britain, Ireland, and across Europe.

    Eight of Ireland’s 14 MEPs have rallied behind calls for revisions to the recently introduced Digital Services Act (DSA), aimed at preventing similar occurrences in the future. Dublin MEP Regina Doherty emphasized the necessity of further regulation, stating, “If we require further regulation to ensure dynamic pricing does not become the norm, then I do think it will be necessary.” She has previously urged the Competition and Consumer Commission in Ireland to look into the matter.

    Firms that violate the DSA could face fines of up to 6% of their global revenue, with repeat offenders facing potential bans from operating within Europe. The EU is currently conducting a comprehensive review of consumer protection laws, with ticket sales regulations among those under scrutiny. A final report on these evaluations is expected to be released later this year.

    Ciaran Mullooly, MEP for Ireland’s Midlands–North-West constituency, characterized dynamic pricing as a “rip-off” in comments made to Reuters. He stressed the importance of addressing the issue through the DSA, warning that failure to act could undermine the legitimacy of the legislation.

    Another six MEPs, including Barry Cowen, Billy Kelleher, Cynthia Ní Mhurchú, Kathleen Funchion, Luke Ming Flanagan, and Lynn Boylan, have also expressed their support for new rules targeting dynamic pricing. Ní Mhurchú noted, “We should discuss whether or not we should amend the DSA to deal with dynamic pricing. This issue is not new. Now is the time to discuss and take action.”

    Source: Radio Kerry