Australia to ban ‘dynamic pricing’ of tickets after Green Day uproar | Economy

Australian Prime Minister Anthony Albanese says he will outlaw ‘dodgy practices’ that rip off customers.

Australia has announced plans to ban “dynamic pricing” of tickets for concerts and sporting occasions following uproar over the cost of high-profile events.

Australia’s centre-left government said on Tuesday that it would outlaw a range of “tricky tactics” used by businesses, including the practice of raising ticket prices as demand increases.

The Labor Party government’s proposed reforms would also target “subscription traps” that make it difficult to cancel a service, fees that are hidden or added in stages, and manipulative online practices such as claiming a product can only be purchased for a limited time.

Australian Prime Minister Anthony Albanese said the measures would stop businesses from engaging in “dodgy practices” to rip off customers.

“Today’s announcement puts businesses engaging in unfair trading practices on notice,” Albanese said. “Hidden fees and traps are putting even more pressure on the cost of living and it needs to stop.”

Treasurer Jim Chalmers said most businesses operate fairly and would have nothing to worry about.

“This is all about cracking down on dodgy deals to save Australians money if we can, and where we can,” Chalmers said.

The move comes after Ticketmaster generated a backlash from music fans last month when it listed tickets for American punk band Green Day’s upcoming Australian tour for as much as 500 Australian dollars each.

Ticketmaster’s “In Demand” ticket pricing system also sparked outrage in the UK and Ireland after fans of British rock band Oasis reported waiting in virtual queues for tickets for hours only to see prices surge dramatically when it came to the moment of purchase.

Eight of Ireland’s 14 members of European Parliament backed calls for legislation to prevent such practices following the uproar.

Ticketmaster, a subsidiary of Live Nation Entertainment based in Phoenix, Arizona, has defended dynamic pricing, saying it gives fans “fair and safe access to sought after seats at market driven prices.”