Ticketmaster Slammed for Alleged Dynamic Pricing as Ticket Prices Soar by 300%

The CEO of Ticketmaster UK, Andrew Parsons, has categorically refused allegations that the company has used ‘dynamic pricing’ to increase prices of tickets even as fans of artists like Lana Del Rey and Paul McCartney have made several claims to the contrary. Parsons was called to appear before the Business and Trade Committee to answer questions about the complaints that fans are paying too much for tickets and that prices rise dramatically while making the purchase.

In his testimony before the committee, Parsons stated that Ticketmaster does not alter ticket prices through an algorithm or increase them during price spikes. He explained, “The price of a ticket is agreed in advance by the artist and event promoters. We do not alter prices in an automated or algorithmic fashion.” He explained that the prices that fans see on the platform are set after a process of careful consideration and negotiation with artists and their management.

Chairman of the committee Liam Byrne put Parsons to the test with examples, such as a fan trying to buy a £155 ticket for a Harry Styles concert and being offered £386 ticket at the checkout. “How does it increase once you get to the stage of having to enter your credit card details?” Byrne asked. Parsons replied, “It doesn’t. The prices are fixed. First, cheaper tickets get sold out, which may create a false impression of price increase.” Byrne also referred to Paul McCartney’s recent Got Back tour where standard ticket prices were between £30.95 and £182.95, although some fans paid as much as £592. For instance, for Lana Del Rey’s tour, even though 90% of the tickets were priced between £70 and £162.50, the platinum-level tickets were up to 2.5 times the face value of the tickets and some of the standing tickets were £400.

Parsons once more pointed out that the price differences are not brought about by technology but are a result of the availability of more expensive seats after the lower-cost ones have been bought. “It’s humans setting these prices, not computers or bots,” he summed up.