Back in Anger: Oasis Fans Outraged by Soaring Ticket Prices as Government Vows to Investigate Dynamic Pricing

Skyrocketing costs for Oasis reunion tour tickets have left fans disheartened; government to examine fluctuating pricing methods

"Time to revisit our anger," expressed a fan of Oasis on social media, voicing frustration over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024 12:44

The authorities have committed to investigating 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 labeled the sale of overpriced Oasis concert tickets as "depressing," announcing that surge pricing will be examined in a government evaluation of the secondary ticket market for live events.

On Saturday, enthusiasts 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 confronted with ticket prices that greatly exceeded their original cost.

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

Over the weekend, Ms. Nandy declared that the government would address these concerns and examine the technology behind queuing systems that promote it in a forthcoming consultation.

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

"This administration is dedicated to recentering fans as the focal point of the music industry."

"In our upcoming consultation regarding consumer protections for ticket resales, we plan to address matters concerning the transparency and application of dynamic pricing, as well as the technologies supporting queuing systems that encourage this practice."

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

What is dynamic pricing?

This pricing strategy, which varies prices based on demand, was launched by Ticketmaster in 2022.

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

When demand for tickets is high and supply is low, 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 "static or fluctuate based on the market."

On its official site, Ticketmaster characterizes its "Platinum" tickets as those whose prices fluctuate based on market dynamics of supply and demand.

The dynamic pricing system aims to ensure that fans can purchase tickets both fairly and securely, while also allowing artists and event organizers to price the tickets more accurately according to their actual market value.

The firm states that the responsibility for setting ticket prices and deciding on the use of dynamic pricing for events rests with the artists, their management teams, and the event promoters.

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Cabinet member Lucy Powell experienced the impact of dynamic pricing last 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 review.

A representative stated: "Our goal is for supporters to receive equitable treatment when purchasing tickets through secondary platforms. We have initiated measures against prominent resale sites to guarantee compliance with consumer protection laws."

"We believe additional safeguards are necessary 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 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 adopted in sectors other than music, particularly in the travel industry, where it is commonly 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 believed artists should have the option to exit the system and set their own prices for their work.

Attempts have been made to get a response from Ticketmaster.

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