Government to Review Dynamic Pricing After Oasis Reunion Tour Ticket Outrage

Sky-high Oasis concert ticket prices 'disheartening' – officials vow to examine fluctuating pricing strategies

"Time to revisit 'Don't Look Back in Anger'," commented an Oasis enthusiast on social media, expressing frustration over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

The government has pledged to investigate the practice of dynamic ticket pricing following an incident where ticket prices for the Oasis reunion tour surged to over twice their original cost during the sales period.

Culture Secretary Lisa Nandy expressed disappointment over the high prices of Oasis concert tickets, announcing that the government will examine surge pricing as part of its review of the secondary market for event tickets.

On Saturday, enthusiasts of the globally renowned music group spent hours in online lines, eagerly attempting to secure tickets for the much-anticipated reunion concerts scheduled for the following year.

Once they endured the long lines and extensive waiting times, numerous individuals encountered ticket prices significantly above the original cost.

Many took to social media to voice their frustration after tickets, originally priced at £148, were listed for £355 on Ticketmaster just hours after becoming available, a result of the dynamic pricing strategies employed.

Over the weekend, Ms. Nandy revealed plans for a forthcoming government review that will examine certain problems and the technology behind queueing systems that encourage them.

She expressed disappointment, noting, "Following the thrilling announcement of Oasis's comeback, it's disheartening to observe the excessively high ticket prices that prevent regular fans from experiencing their beloved band in concert."

"The administration is dedicated to re-centering music enthusiasts as the core focus of the industry."

"In our upcoming consultation on consumer protections for ticket resales, we plan to address concerns related to the transparency and implementation 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 caused by scalpers and overpriced ticket resales, guaranteeing reasonably priced tickets for everyone."

What does dynamic pricing mean?

This strategy, which adjusts prices according to demand, was adopted by Ticketmaster in 2022.

The measure was implemented to prevent scalping and to increase the revenue flowing to the artists.

Basically, when many people want tickets but there are few available, 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 could be either "fixed or subject to market fluctuations."

On its official site, Ticketmaster characterizes its "Platinum" tickets as ones where the pricing fluctuates based on market demand and availability.

The text indicates that the purpose 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 asserts that it is the artists, their management, 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 experienced the effects of dynamic 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 review.

A representative stated: "Our aim is for fans to receive equitable treatment when purchasing tickets from secondary outlets, and we have initiated measures against prominent resale platforms to enforce compliance with consumer legislation."

"We believe additional safeguards for consumers are necessary, 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 news follows last Tuesday's announcement by Noel and Liam Gallagher that the band is finally getting back together.

Dynamic pricing is widely utilized in various sectors besides music, particularly in the travel industry for both hotel accommodations and flight reservations.

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Jack Antonoff, often known for his work with Taylor Swift, has previously pointed out problems with dynamic pricing.

He explained to Stereogum that his goal was for artists to have the option to withdraw from the system and set their own prices for their work.

Efforts have been made to contact Ticketmaster for a statement.

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