Government to Review Dynamic Pricing After Oasis Reunion Tour Ticket Outrage

Sky-high Oasis concert ticket prices leave fans 'disheartened'; government to scrutinize dynamic pricing methods

"Time to look back in anger," posted a disappointed Oasis enthusiast on social media, expressing frustration over the ticketing process for the eagerly awaited reunion tour.

Monday, September 2, 2024, 12:

The government has pledged to investigate 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 expressed disappointment over the high prices of Oasis tickets, stating that the issue of surge pricing will be addressed in a governmental examination of the secondary market for concert tickets.

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.

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

Many voiced their frustration online after tickets, originally priced at £148, skyrocketed to £355 on Ticketmaster just hours after they were made available, a result of the dynamic pricing strategies employed.

Over the weekend, Ms. Nandy stated that the government plans to examine these problems and the technologies that promote queuing systems during a forthcoming consultation.

She expressed disappointment, stating, "Following the thrilling announcement of Oasis's comeback, it's disheartening to witness the steep rise in ticket prices, which prevents 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 consultation on consumer protection measures 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 encourage its use."

"By collaborating with artists, the entertainment sector, and concertgoers, we aim to establish a more equitable system that eliminates the problems caused by scalpers and overpriced ticket resales, guaranteeing reasonably priced tickets for all."

What is dynamic pricing?

This pricing strategy, which adjusts prices based on demand, was implemented by Ticketmaster in 2022.

It was implemented to prevent scalping and to direct a greater share of profits towards the artists.

Fundamentally, when tickets are in high demand and the supply is limited, their prices tend to increase.

In response to frustration about the cost of Oasis tickets, the company clarified that it does 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 explains that its "Platinum" ticket prices fluctuate based on market demand and availability.

The dynamic pricing system aims to ensure that tickets are accessible and secure for fans, while allowing artists and event organizers to set prices that reflect the actual market value.

The firm states that it is the artists, along with their teams and the event promoters, 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 impact 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: "It's important to us that fans receive reasonable treatment when purchasing tickets from secondary outlets. We have thus confronted prominent ticket resale platforms to verify compliance with consumer protection laws."

“We believe that consumers require additional safeguards, and it's encouraging that the government is keen to tackle this issue. We are eager to collaborate with them to achieve optimal results for supporters and honest businesses.”

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The announcement of the band's highly anticipated reunion was confirmed by Noel and Liam Gallagher last Tuesday.

Dynamic pricing is widely used across various sectors, notably in the travel industry for both hotel accommodations and airline fares.

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Jack Antonoff, known for his frequent collaborations with Taylor Swift, has previously expressed concerns about dynamic pricing.

He explained to Stereogum that he envisions a system where artists have the freedom to opt out and set their own prices for their work.

Efforts to reach Ticketmaster for a statement have been made.

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