Back in Anger: Government to Review Dynamic Pricing After Oasis Ticket Outrage

Sky-high Oasis concert ticket costs 'disheartening' – officials vow to examine fluctuating pricing practices

"Time to revisit our frustration," commented an Oasis enthusiast on social media, expressing dismay over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

The authorities have committed to investigating fluctuating ticket prices following the significant increase in costs for the Oasis reunion tour tickets during their sale.

Culture Secretary Lisa Nandy expressed disappointment over the exorbitant pricing of Oasis tickets, highlighting that dynamic pricing will be part of a governmental examination into the resale market for concert tickets.

On Saturday, devotees of the globally renowned music group spent hours in online lines, eager to secure tickets for one of next year's comeback concerts.

After enduring long lines and significant delays, numerous attendees were greeted with ticket costs substantially exceeding their original prices.

Users took to social media to vent their frustration when tickets, originally priced at £148, skyrocketed to £355 on Ticketmaster shortly after they went on sale, a surge attributed to dynamic pricing models.

During her weekend address, Ms. Nandy declared that a forthcoming government consultation would explore these matters, including the technology behind queue systems that encourage such behavior.

She expressed disappointment, stating, "Following the exciting announcement of Oasis's comeback, it's disheartening to witness the exorbitant ticket prices preventing regular fans from experiencing their beloved band in concert."

"This administration is dedicated to re-centering enthusiasts in the core of the music scene."

"In our upcoming discussion on consumer protection measures for ticket resales, we plan to address concerns related to the clarity and application of variable pricing strategies, as well as the technologies that support queuing mechanisms which promote such pricing."

"By collaborating with artists, the industry, and concertgoers, we can develop a more equitable system that eliminates the problems of scalpers, exploitative reselling, and guarantees ticket prices that are reasonable."

What does dynamic pricing mean?

This system, which adjusts prices based on demand, was launched by Ticketmaster in 2022.

The measure was implemented to prevent scalping and to direct a greater share of earnings towards the artists.

When there's high demand for tickets and they are in short supply, prices tend to increase.

In response to frustration regarding the cost of Oasis's tickets, the company clarified that they do not determine ticket pricing and provided a link to a website explaining that prices may be "fixed or determined by the market."

On its official site, Ticketmaster explains that the pricing of its "Platinum" tickets fluctuates based on market demand and availability.

The text explains that the purpose of the dynamic pricing system is to ensure that fans can obtain tickets in a fair and secure manner, while also allowing artists and event organizers to set ticket prices that more accurately reflect their market value.

The firm states that it is the artists, along with their management and event promoters, who determine the prices and decide if dynamic pricing will be applied to their events.

Stay ahead with the latest Breaking News

Download the Sky News application at no cost.

Cabinet member Lucy Powell experienced the impact of dynamic pricing this past Saturday, paying over twice the initially quoted price for a ticket to an Oasis concert.

The Competition and Markets Authority (CMA) supported the announcement of the government's investigation.

A representative stated: "Our goal is for supporters to receive reasonable treatment when purchasing tickets from resellers. We have taken steps against prominent ticket resale platforms to make sure they comply with consumer protection laws."

"We believe that consumers require additional safeguards, so it's encouraging that the government is keen to tackle this issue. We are eager to collaborate with them to achieve favorable results for both supporters and businesses that play by the rules."

Discover more at Sky News: The Cure's band member faces a 'rare' cancer diagnosis; Samantha Fox found not guilty of wife assault.

The announcement of the band's much-anticipated reunion was made by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is widely used in sectors other than music, notably in the travel industry, where it is commonly applied to hotel accommodations and flight bookings.

Stay ahead with the latest breaking news updates.

Download the Sky News application at no cost

Jack Antonoff, a regular collaborator of Taylor Swift, previously expressed concerns about dynamic pricing.

He explained to Stereogum that he desired for artists to have the option to leave the system and set their own prices for sales.

Efforts have been made to contact Ticketmaster for a statement.

Associated Subjects

Footer for Sky News

Information About Sky News

Services Provided by Sky News

Sky Television Networks

Additional Sky Websites