financetom
Business
financetom
/
Business
/
EU lawmakers push for new 'dynamic pricing' rules after Oasis fans complain
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
EU lawmakers push for new 'dynamic pricing' rules after Oasis fans complain
Sep 11, 2024 10:27 AM

LONDON, Sept 11 (Reuters) - European Union lawmakers are

backing calls for new rules around the use of "dynamic pricing"

when selling online goods, after Oasis fans complained about

massively inflated ticket prices for a string of sell-out shows

by the British band.

Last month, thousands of fans waited for hours in virtual

queues to get their hands on tickets for Oasis reunion shows in

the UK and Ireland next summer, only to find prices had jumped

dramatically at checkout.

The resulting backlash sparked probes into Ticketmaster -

the official ticketing partner for the concerts - among British,

Irish, and European regulators.

Now eight of Ireland's 14 MEPs (members of European

Parliament) have backed calls for changes to the Digital

Services Act (DSA), a sweeping set of tech regulations rolled

out earlier this year, to avoid similar situations in the

future.

"If we require further regulation to ensure dynamic pricing

does not become the norm then I do think it will be necessary,"

said Dublin MEP Regina Doherty, who previously called for

Ireland's Competition and Consumer Commission to investigate the

issue.

Firms deemed to be in breach of the DSA face fines of up to

6% of their global turnover. Repeat offenders can be banned from

operating in Europe altogether.

The EU has been conducting a broad "fitness check" of

existing consumer protection laws over the past two years, with

rules around ticket sales among those under review. A final

report is due to be published later this year.

Ciaran Mullooly, MEP for Ireland's Midlands-North-West

constituency, told Reuters he would support new measures being

added to the DSA.

"There's no word to describe it other than 'rip-off'," he

said. "It's a real challenge for the Digital Services Act. The

Commission is going to have to get involved in this - and if

they don't, it'll make their legislation irrelevant."

Another six of Ireland's MEPs - Barry Cowen, Billy Kelleher,

Cynthia Ni Murchu, Kathleen Funchion, Luke Ming Flanagan, and

Lynn Boylan - told Reuters they would support the introduction

of new rules to deal with the issue.

"We should discuss whether or not we should amend the DSA to

deal with dynamic pricing," said Ni Murchi. "This issue is not

new. Now is the time to discuss and take action."

A representative for Oasis declined to comment.

Ticketmaster did not immediately respond to requests for

comment.

Last week, when Britain's Competition and Markets

Authority (CMA)

opened a probe

, a Ticketmaster spokesperson said the company was

"committed to cooperating," and Oasis issued a statement saying

decisions on ticketing and pricing were the responsibility of

promoters and management.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved