Andrew Parsons: Dynamic Price Survey of Parliament: Ticketmaster for Litigation

The Committee for Business and Trade in Parliament has noticed the dynamic pricing method and secondary ticketing. Andrew Parsons, CEO of Ticketmaster UK, is questioned by the dynamic pricing model and methodology for ticket prices. The discussion also raises the question of secondary ticketing where dealers sell tickets at higher prices.The committee has asked how ticket prices are decided and how ticket dealers affect fans and artists.

Parsons has stated that dynamic pricing reflects demand and that organizers of events, not ticketmaster, are taking prices. The Music Week The report states that MD emphasized how secondary ticket pictures increase prices and affect both artists and fans.

What is Andrew Parsons’ views and defense? Why is Parliament questioned?

• Andrew Parsons, Ticketmaster, UK, MD, explained that Ticketmaster only follows the prices set by organizers and artists.
  As reported by the BBC he said:
  “The price you see on the Ticketmaster Web site is the price the organizer wanted it to be, including all fees, and that’s the only price we’ll ever show.”
• Dynamic price changes based on demand, but it is not controlled by Ticketmaster itself.
• Ticket prices are set in advance, so there is no “bait and switch” during the purchase process.
• Fees are clear and in advance with an average service fee of 11%.
• Parsons also pointed out that secondary ticketing, where gene sellers mark prices, injure fans and artists.
• According to the parsons observations, while a cap is favorable, “30% still give the opportunity for touts to run a business that way.”, BBC reported.
• Andrew Parsons supports the government’s secondary ticket review, but warns that a 30% resale price increase can still benefit Scalps.

Parliament questions whether dynamic pricing gives ticketmaster and dealers an unreasonable advantage, leading to higher prices, especially for large events.

What is the secondary ticket problem?

Secondary ticketing refers to dealers who buy tickets at face value and sell them at inflated prices, and often benefit from demand. This practice harms fans who face higher costs and artists losing potential revenue.

According to Music WeekTicketmaster’s Andrew Parsons highlighted how allowing artists to set higher prices for certain tickets could help minimize scalping, ensure that there is a fair price for fans and reduces control secondary dealers to ticket availability. Despite these efforts, Scalpers often find ways of earning and cause significant concerns about justice in ticketing.

FAQS:

1. What is dynamic pricing?

Dynamic pricing involves a system where demand decides ticket prices. In case of higher demand, prices will rise, while unsold tickets could be reduced to attract buyers.

1. How does Ticketmaster apply to ticket prices?

The prices of Ticketmaster are determined by the event organizers and artists. They have no hand to change the prices. However, ticket prices vary according to demand and accessibility.