The Oasis ticket sale debacle over the last few days has brought “dynamic pricing” and the company Live Nation into the spotlight once again.
https://www.reuters.com/world/uk/what-is-dynamic-pricing-that-has-angered-oasis-fans-2024-09-02/
The UK government was already reviewing ticket sale practices and issued a statement saying they “will investigate how ticket prices fluctuate whilst being sold on official sites.”
Ticketmaster first introduced dynamic pricing in 2022 to combat ticket touts/resellers scalping tickets for profit.
️Oasis released a statement: “It needs to be made clear that Oasis leaves decisions on ticketing and pricing entirely to their promoters and management… [and] that they had at no time any awareness that dynamic pricing was going to be used.” This seems somewhat disingenuous, as it defers blame to their management team and promoters, who are essentially under their control.
The US DOJ sued Live Nation and Ticketmaster in May 2024 for anticompetitive conduct (https://www.justice.gov/opa/pr/justice-department-sues-live-nation-ticketmaster-monopolizing-markets-across-live-concert).
Live Nation and Ticketmaster merged in 2010.
The hold Live Nation has over the UK and European live music industry is staggering, encompassing promotion, merchandise, security, owning physical venues, and running festivals (https://www.bbc.com/news/articles/crmw0l30vk0o).
Dynamic pricing, a staple in travel and hospitality, is being used more widely across several industries; even Tinder will charge you more for dates based on your desperation level, LOL.
The real question is: How much ££££ would you spend to see Oasis at Wembley Stadium with its notoriously bad sound system, overpriced drinks and food, lack of pre-gig pubs, and massive queues for the underground when trying to get home?!!
Some hacks to help manage dynamic pricing companies, services, and products are listed below. I’m surprised they don’t mention using a VPN for travel; it’s always fun to compare flights and hotel prices with it.
#LiveNation #Oasis #AsYouWere
https://www.inc.com/jessica-stillman/dynamic-pricing-annoying-expensive-3-hacks-help-save-money.html
Use tech to beat tech. Cowles speaks to Nerdwallet dynamic pricing expert Sara Rathner, who “recommends Honey, an app and browser extension that finds existing coupons and discount codes for items you want to buy. There’s also Camel Camel Camel, which monitors Amazon prices and tracks the best time to make purchases.” Signing up for loyalty programs and downloading retailers’ apps can also improve your chances of getting the best deals, she adds, though you are trading your data for savings.
Clear those cookies. You can also go the other way and try to restrict companies’ access to your data and thus their ability to strategically manipulate prices. “It’s worth clearing your cookies regularly, which can limit some digital tracking,” Rathner also suggests.
Enlist a friend. “Finally, if you suspect you’ve been targeted by surveillance pricing, ask a friend to look up a price on their computer or phone — comparison shopping from different IP addresses can usually ferret out pricing inconsistencies,” writes Cowles. Companies, fearing backlash, are often responsive to complaints, she notes, so if you discover something egregious, speak up.