"We work closely with event organisers to be able sell tickets at the prices that they've determined," he told the committee.

"There's no technology-driven change to those prices.

"They are the prices which humans have agreed to.

"There's not a computer or a bot behind it."

The band themselves had also hit out at the system, saying: "It needs to be made clear that Oasis leave decisions on ticketing and pricing entirely to their promoters and management."

But Mr Parsons told the committee: "If we're not able to [capture] that value, which the artist is doing in those instances, then that money is just going to go, and the tickets are going to be captured and gobbled up by touts."

The MPs did not ask about the Oasis sale specifically, as the Competitions and Markets Authority (CMA) is looking into whether Ticketmaster breached consumer-protection law.