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Chris Schulz: Senior Investigative Journalist at Consumer NZ on concert ticket surge pricing
Manage episode 437821572 series 3391555
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Ticket prices have increased exponentially over the years as retailers take advantage of dynamic pricing schemes.
Otherwise known as surge pricing, dynamic pricing sets flexible prices that change depending on the demand.
Many fans of Oasis wound up forking out double the advertised price of £148.50 (NZ$313.38) for the band’s reunion tour, spending £355.20 (NZ$749.58) instead.
The UK Government has stepped in, announcing a probe into the surge pricing.
Chris Schulz, Senior Investigative Journalist at Consumer NZ, told Kerre Woodham that we’ve seen prices go up and up since Covid, and ticket companies seem to be pushing how fast fans are willing to go to pay for those tickets.
He said that with the outcry over Oasis tickets we might have found that line, and maybe this is the point where politicians are calling for regulation.
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