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

Skyrocketing prices for Oasis reunion tour tickets have left fans disheartened, prompting government to consider reevaluating fluctuating pricing strategies. "It's time to look back in anger," commented a disappointed Oasis enthusiast on social media, frustrated by the ticketing process for the eagerly awaited tour.

Monday, September 2, 2024, 12:

The authorities have pledged to investigate fluctuating ticket prices following a significant increase in the cost of tickets for the Oasis reunion tour during the sales period.

Culture Secretary Lisa Nandy expressed her dismay at the high prices of Oasis concert tickets, labeling it "depressing" and announcing that surge pricing will be examined in the government's upcoming review of the secondary ticket market for live events.

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

After enduring long lines and extended delays, numerous individuals discovered that the ticket costs significantly exceeded the original price.

Many voiced their frustration online after tickets initially priced at £148 were spotted on Ticketmaster for £355 just hours after their release, a surge attributed to dynamic pricing strategies.

Over the weekend, Ms. Nandy stated that the government would examine these problems and the technology that encourages queuing systems in a forthcoming consultation.

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

"This administration is dedicated to recentering fans in the music experience."

"In our upcoming discussion on consumer protection measures for ticket resales, we plan to address concerns related to the transparency and application of dynamic pricing. This includes examining the technology behind queue systems that promote such pricing strategies."

"By collaborating with artists, the industry, and supporters, we can develop a more equitable system that eliminates the problems caused by scalpers and overpriced ticket resales, guaranteeing reasonably priced tickets for everyone."

What is dynamic pricing?

This pricing strategy, which adjusts prices based on demand, was adopted by Ticketmaster in 2022.

The policy was implemented to prevent scalping and to direct a greater share of profits towards the performers.

When there's high demand for tickets and a limited number available, 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 website link explaining that prices may be "set or fluctuate based on the market."

Ticketmaster's official website explains that the pricing for its "Platinum" tickets fluctuates based on the principles of supply and demand.

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

The company states that it is the artists, along with their management teams and event promoters, who determine the prices and decide if dynamic pricing will be implemented for their events.

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

The Competition and Markets Authority (CMA) expressed support for the government's announcement of a review.

A representative stated: "Our goal is for fans to receive equitable treatment when purchasing tickets from secondary markets. We have initiated measures against prominent resale platforms to enforce compliance with consumer protection laws."

"We believe additional safeguards should be implemented for consumers, and it's encouraging that the government is taking steps to tackle this issue. We are eager to collaborate with them to achieve optimal results for supporters and businesses that play by the rules."

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The announcement of the band's highly anticipated reunion was confirmed by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is prevalent in various sectors, notably in the travel industry, where it is often applied to hotel accommodations and flight reservations.

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

He explained to Stereogum that he wished for artists to have the option to withdraw from the system and set their own prices for sales.

Attempts to reach Ticketmaster for a statement have been made.

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