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Investing.com -- Ticketmaster has agreed to make changes to its sales practices following an investigation by the UK’s Competition and Markets Authority (CMA) into the handling of Oasis concert tickets.
The CMA found that Ticketmaster failed to inform fans waiting in long queues that standing tickets were being sold at two different price points, and that prices would increase once cheaper tickets sold out.
The investigation also revealed that some "platinum" tickets were priced at 2.5 times higher than "standard" tickets without adequately explaining that these premium-labeled tickets offered no additional benefits to purchasers.
Under the new agreement, Ticketmaster will be required to notify fans 24 hours in advance when a tiered pricing system will be used for events. The company must also provide more transparent information about ticket prices to customers waiting in online queues.
Additionally, the ticketing platform has committed to stop using misleading ticket labels and will provide regular compliance reports to the CMA as part of the undertakings.
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