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

Sky-high Oasis concert ticket prices spark outrage; government to examine fluctuating pricing strategies

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

Monday, September 2, 2024, 12:

The authorities have pledged to investigate fluctuating ticket prices following reports that tickets for the Oasis reunion tour saw their prices increase significantly during the sale period.

Culture Secretary Lisa Nandy labeled the exorbitant pricing of Oasis concert tickets "depressing" and announced that dynamic pricing will be examined in a governmental review of the secondary market for concert tickets.

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

Yet, after enduring both lines and extended delays, numerous individuals encountered ticket costs significantly exceeding their original price.

Many voiced their frustration online after seeing tickets originally priced at £148 being resold on Ticketmaster for £355 shortly after they went on sale, a surge attributed to the platform's dynamic pricing models.

Over the weekend, Ms. Nandy stated that the government would examine these problems and the "technology related to queue systems that encourage it" in a forthcoming consultation.

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

"This administration is dedicated to recentering fans as the core focus of the music industry."

"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, as well as the technology that supports queuing systems which encourage its use."

"By collaborating with artists, the industry, and concertgoers, we can establish a more equitable system that eliminates the problems of scalpers and overpriced ticket resales, guaranteeing reasonably priced tickets for all."

What is dynamic pricing?

Introduced by Ticketmaster in 2022, this system adjusts prices based on demand.

It was implemented to prevent scalping and to direct a larger share of profits towards the artists.

In essence, when many people want tickets and there aren't enough to go around, prices tend to increase.

In response to frustrations 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 "set or subject to market fluctuations."

Ticketmaster's website explains that the prices of its "Platinum" tickets fluctuate based on market demand and availability.

The objective of the dynamic pricing system is to ensure fans can buy tickets fairly and securely, while allowing artists and event organizers to set prices that more accurately reflect the market value of the tickets.

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

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Cabinet member Lucy Powell was impacted by surge 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) supported the announcement of the government's examination.

A representative stated: "Our goal is for fans to receive equitable treatment while purchasing tickets through the secondary market, and we have taken steps against prominent resale platforms to enforce compliance with consumer protection laws."

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

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

Dynamic pricing is widely utilized in various sectors besides music, notably in the travel industry where it is commonly applied to hotel accommodations and flight bookings.

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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.

Efforts have been made to reach Ticketmaster for a response.

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