Government Reviews Dynamic Pricing After Oasis Ticket Outrage, Vows to Protect Music Fans

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

"Time to reflect on our frustration," posted an Oasis enthusiast on social media, expressing disappointment over the ticketing process for the much-awaited comeback tour.

Monday, September 2, 2024 12:44

The authorities have pledged to investigate fluctuating ticket prices following a significant increase in the cost of tickets for the Oasis reunion tour while they were available for purchase.

Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing," and announced that dynamic pricing will be considered in a government examination of the resale market for event tickets.

On Saturday, admirers of the globally renowned music group waited online for hours in hopes of securing tickets for one of next year's comeback concerts.

Yet, after enduring the lines and long delays, numerous attendees faced ticket costs significantly exceeding their original prices.

Outrage spread across social media after tickets initially priced at £148 were found being resold for £355 on Ticketmaster shortly after they went on sale, a surge attributed to the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy declared that the government would explore both the underlying issues and the "technology that encourages queuing systems" in a forthcoming consultation.

She expressed disappointment, stating, "Following the thrilling announcement of Oasis's reunion, it’s disheartening to witness the skyrocketing ticket prices which prevent regular fans from experiencing their beloved band in concert."

"This administration is dedicated to re-centering fans as the core of the music experience."

"In our upcoming review on consumer protection measures for ticket resales, we will address concerns related to the transparency and application of dynamic pricing, as well as the technologies underpinning queuing systems that promote its use."

"By collaborating with artists, the industry, and concertgoers, 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?

Ticketmaster rolled out this demand-driven pricing strategy in 2022.

It was implemented to prevent scalping and to make sure that a larger share of the profits goes to the artists.

When ticket demand is high and supply is low, prices tend to increase.

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

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

The text explains that the purpose of the dynamic pricing system is to ensure that fans can buy tickets securely and at reasonable prices, while also allowing artists and event organizers to set ticket prices that more accurately reflect their market value.

The company states that it is the artists, their management, and the 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 experienced the effects of dynamic pricing this Saturday, ultimately paying over twice the initially quoted price for a ticket to see Oasis in concert.

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

A representative stated: "Our goal is for fans to receive reasonable treatment when purchasing tickets on 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 willing to tackle this issue. We are eager to collaborate with them to secure optimal results for both fans and businesses that play by the rules."

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The announcement of the band getting back together was made official by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is widely utilized across various sectors, not just in music, but also extensively in the travel industry, particularly for hotel accommodations and flight bookings.

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

He expressed to Stereogum his desire for artists to have the option to withdraw from the system and set their own prices for sales.

Attempts have been made to reach Ticketmaster for a response.

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