👉 Background: This one starts with UK rock band Oasis, one of the biggest bands of the 90s. The two band members and brothers, Liam and Noel Gallagher had a fallout in 2009. Now, 15 years later, they’re getting the band back together for a UK and Ireland tour!

👉 What happened: Last week, the tickets for the concert went on sale on Ticketmaster and fans waited up to 10 hours for a £135 ticket…but when they got to the ticket page, the seats were more than £350 because “tickets were in demand”.

👉 What else: Ticketmaster's owner LiveNation re-priced the tickets at 'market value' because of high demand. This is LiveNation's new pricing model, which it plans to expand globally including in Australia. But it's got regulators in the UK and worldwide questioning whether dynamic pricing should be legal.

What's the key learning?

💡Dynamic pricing is the idea that prices of a product or service can vary throughout the day or week - depending on the fluctuating demand.

💡This allows companies like Ticketmaster to maximise revenue by charging higher prices during peak demand periods and offering lower prices when demand is lower.

💡In Australia, dynamic pricing is legal as long as prices aren't misrepresented. For example, airlines price their flights differently at different times of the day. And while not all artists are fans of dynamic pricing - like Taylor Swift or Ed Sheeran, it's expected that we might start seeing more of it in entertainment.