(MENAFN- AFP)
The UK's competition watchdog said Thursday it has launched an investigation into Ticketmaster over how it handled ticket sales for next year's sold-out Oasis reunion tour.
The scramble on Saturday for prized tickets for 17 announced concerts in July and August, 2025, saw sudden big price hikes -- known as dynamic pricing -- which infuriated fans.
The band has since scheduled two more dates, in September next year.
"We are working at pace to establish the precise factual background to the sale of Oasis tickets on 31 August, and we are keeping open all potential options for action," the Competition and Markets Authority (CMA) told the government in a letter.
"This includes potential enforcement action where we see evidence of possible breaches of consumer protection law," it added.
Dynamic pricing, where a business adjusts its prices according to changing market conditions, is not in itself unlawful, the CMA noted.
But "where businesses use dynamic pricing or other complex pricing systems, they must not mislead customers about their prices, and must be transparent about how prices are set", it said.
The practice is used across a range of sectors and has been facilitated by the development of AI and other digital tools.
"In certain contexts, it can affect consumers' trust in markets, and their ability to get good deals," the watchdog added.
"Reflecting this, we are exploring any broader competition and consumer issues raised by dynamic pricing, and we look forward to engaging with your officials as our thinking in this area develops."
- Oasis deny responsibility -
Oasis are now set to play six concerts at London's Wembley Stadium next year, as well as 13 other dates in Cardiff, Edinburgh, Manchester and the Irish capital Dublin.
The band released a statement on Wednesday evening denying they were behind the dynamic pricing.
"It needs to be made clear that Oasis leave decisions on ticketing and pricing entirely to their promoters and management, and at no time had any awareness that dynamic pricing was going to be used," said the statement.
It said that "meetings between promoters, Ticketmaster and the band's management" had resulted in an agreement to use dynamic pricing "to help keep general ticket prices down as well as reduce touting".
However, "the execution of the plan failed to meet expectations".
The price surges prompted the UK government to pledge a probe into what Culture Secretary Lisa Nandy branded the "depressing" practice.
She vowed it would be reviewed as part of the government's upcoming consultation on consumer protections in ticket sales and resales.
The row followed the announcement early last week that brothers Noel and Liam Gallagher had ended their 15-year feud and were reuniting the 1990s-founded band for a worldwide tour.
Oasis, whose hits include "Wonderwall", "Don't Look Back In Anger" and "Champagne Supernova", last played together in 2009.
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