Dynamic pricing examination by Parliament: Ticketmaster on trial

economictimes.indiatimes.com:

dynamic pricing method and secondary ticketing. Andrew Parsons, the Managing Director of Ticketmaster UK, is questioned about the dynamic pricing model and ticket pricing methodology. The discussion also raises the issue of secondary ticketing, where resellers sell tickets at higher prices.

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The committee has asked how ticket prices are decided and how ticket resellers impact fans and artists.
Parsons has stated that dynamic pricing reflects demand and that event organizers, not Ticketmaster, set the prices. The Music Week report states that the MD emphasized how secondary ticketing drives up prices, impacting both artists and fans.

What are Andrew Parsons’ Views and Defense? Why is Parliament Questioning?

• Andrew Parsons, Ticketmaster, UK, MD, explained that Ticketmaster only follows the prices set by event organizers and artists.
  As reported by BBC, he said: «The price that you see on the Ticketmaster website is the price that the event organiser wanted that to be, including all fees, and that’s the only price that we will ever display.»
  
• Dynamic pricing changes based on demand, but it’s not controlled by Ticketmaster itself.
  
• Ticket prices are set ahead of time, so there’s no «bait and switch» during the buying process.
  
• Fees are clear and upfront, with an average service fee of 11%.
  
• Parsons also pointed out that secondary ticketing, where re-sellers mark up prices, harms fans and artists.
  
• As per Parsons observations, while a cap is favorable, «30% still gives the opportunity for