Government to Review Concert Ticket Dynamic Pricing Amid Outrage Over Oasis Reunion Tour Costs

Skyrocketing prices for Oasis reunion tour tickets have fans upset, prompting government to consider examining fluctuating pricing strategies

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

Monday, September 2, 2024, 12:

The administration has pledged to investigate the practice of dynamic ticket pricing following a significant increase in prices for the Oasis reunion tour tickets during the sale period.

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

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

Once past the long lines and extended delays, numerous individuals encountered ticket costs significantly exceeding their original price.

Outrage spread across social media platforms when tickets initially priced at £148 were found being resold for £355 on Ticketmaster shortly after being released, a consequence of the dynamic pricing strategy employed.

During a weekend address, Ms. Nandy declared that the government would explore problems including the technology that encourages queue systems in a forthcoming consultation.

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.

"The administration is dedicated to re-centering music around its fans."

"In our upcoming consultation on consumer protections for ticket resales, we plan to address concerns related to the transparency and application of dynamic pricing, as well as the technology behind queuing systems that promote it."

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

What does dynamic pricing mean?

This system, which adjusts prices based on demand, was rolled out by Ticketmaster in 2022.

The measure was implemented to prevent scalping and to increase the earnings of the artists.

When there's high demand and a limited number of tickets available, prices tend to increase.

In response to frustration regarding the cost of Oasis tickets, the company clarified that they do not determine ticket prices and provided a link to a site explaining that prices can be "set or fluctuate based on the market."

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

The aim of the dynamic pricing system is to ensure that fans can obtain 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 the decision on pricing and the use of dynamic pricing for their events is determined by the artists, their management teams, and the promoters.

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Government official Lucy Powell was affected by surge pricing this past Saturday, ultimately paying over twice the initial price quoted for a ticket to an Oasis concert.

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

A representative stated: "Our goal is for fans to receive a reasonable offer when purchasing tickets from secondary outlets, and we have initiated measures against key resale platforms to enforce compliance with consumer protection laws."

"We believe that additional safeguards for consumers are essential, 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 both fans and businesses that play by the rules."

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

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

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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 hoped artists could choose not to participate in the system and set their own prices for their work.

Efforts have been made to contact Ticketmaster for their response.

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