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

Sky-high Oasis concert ticket costs dishearten fans; government to examine fluctuating pricing strategies

"Time to revisit our frustration," posted an Oasis enthusiast online, expressing dissatisfaction with the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

Authorities have pledged to investigate variable ticket pricing following a significant increase in the prices for the Oasis reunion tour tickets during their sale period.

Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing," announcing that surge pricing will be examined in a forthcoming government review of the secondary market for concert tickets.

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

Once they endured the long lines and extended delays, numerous individuals encountered ticket costs significantly above the original price.

There was an outpouring of frustration online after tickets, originally priced at £148, skyrocketed to £355 on Ticketmaster shortly after going on sale, a surge attributed to the platform's dynamic pricing mechanisms.

During her weekend address, Ms. Nandy revealed plans for a future government consultation to examine these problems and the technological aspects of queue management systems that promote them.

She expressed disappointment following the announcement of Oasis's reunion, noting that exorbitant ticket prices are preventing 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 matters related to the transparency and application of dynamic pricing, as well as the technology behind queue systems that encourage it."

"By collaborating with artists, the industry, and concertgoers, we can develop a more equitable system that eradicates the problems of 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 rolled out by Ticketmaster in 2022.

The measure was introduced to prevent scalping and to direct more profits towards the performers.

When demand for tickets is high and supply is restricted, prices tend to increase.

In response to frustration about the cost of Oasis's tickets, the company clarified that it does not determine ticket pricing and provided a link to a website explaining that prices could be either "fixed or influenced by the market."

On its official website, Ticketmaster characterizes its "Platinum" tickets as those whose prices fluctuate based on market dynamics and consumer interest.

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

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

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Government official Lucy Powell was affected by surge pricing last Saturday, ultimately paying over twice the initially stated price for a ticket to an Oasis concert.

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

A representative stated: "Our goal is for fans to receive equitable treatment when purchasing tickets through secondary channels, and we have initiated measures against prominent reselling sites to enforce compliance with consumer protection laws."

"We believe that additional safeguards are necessary for consumers, and it's encouraging that the government is willing 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 long-awaited reunion was confirmed by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is widely utilized across various sectors, not just in music but also notably in the travel industry for things like 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 his goal was for artists to have the option to exit the system and set their own prices for their work.

Ticketmaster has been contacted for a statement.

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