Summarize this content to 2000 words in 6 paragraphs in Arabic Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The UK competition watchdog has begun an investigation of Ticketmaster over the sale of Oasis concert tickets, after complaints from fans raised concerns the sales site’s methods might have breached consumer protection laws.The Competition and Markets Authority said on Thursday it was looking at how the world’s biggest seller of music and sporting tickets might have used “dynamic pricing” when selling tickets for the 1990s band’s reunion tour. The term refers to the practice of adjusting prices based on changing demand.The watchdog said it was looking at whether Ticketmaster had engaged in unfair commercial practices and whether people were given clear and timely information that the tickets could be subject to dynamic pricing. It also said it would examine whether people were put under pressure to buy tickets within a short period of time at a higher price than they had anticipated.“It’s important that fans are treated fairly when they buy tickets, which is why we’ve launched this investigation,” said Sarah Cardell, chief executive of the CMA. “It’s clear that many people felt they had a bad experience and were surprised by the price of their tickets at checkout.”Ticketmaster said: “We are committed to cooperating with the CMA and look forward to sharing more facts about the ticket sale with them.”The reunion of Noel and Liam Gallagher for the first time in 16 years this week became the biggest concert launch ever seen in the UK, with more than 10mn fans from 158 countries trying to buy tickets.But the dynamic pricing system used by Ticketmaster to sell tickets caused widespread anger among fans, many of whom had to wait for hours before paying hundreds of pounds more than expected. The system, frequently used in the US, raises the cost of tickets in response to high demand.On Wednesday, Oasis blamed its management and promoters for the pricing fiasco, saying the band had no idea that dynamic pricing would be used to sell its tickets. Ticketmaster told the Financial Times earlier this week that “all ticket prices, including Platinum, In Demand and VIP” were set by the tour. Live Nation, the US media company that owns the ticket sales platform, is a co-promoter of the tour.The UK government will look at the use of dynamic pricing as part of a wider consultation into the ticketing industry expected later this year. Culture secretary Lisa Nandy said earlier this week the government would probe “issues around the transparency and use of dynamic pricing”, including the technology around queueing systems which provided an incentive for it.Live Nation argues that the use of dynamic pricing curbs the power of ticket touts by raising prices and squeezing their ability to make money. The company also says that bands are paid more as a result — although the company also gets a cut of the higher revenues.The CMA has invited fans to submit evidence of their Ticketmaster experiences, including screenshots of the purchasing process, by September 19, as part of its investigation.
