Government to Review Dynamic Pricing After Oasis Ticket Outrage: Calls for Fairer Access and Transparent Sales Practices

Sky-high Oasis concert ticket prices have left fans disheartened; government to reassess variable pricing strategies

An Oasis enthusiast expressed frustration on social media, lamenting, "Time to look back in anger," in response to the controversial ticketing process for the band's eagerly awaited reunion tour.

Monday, September 2, 2024, 12:

Officials have pledged to investigate the practice of variable ticket pricing following a sharp increase in prices for the Oasis reunion tour, with costs soaring to over twice the original amount during the sale period.

Culture Secretary Lisa Nandy labeled the high prices of Oasis concert tickets as "depressing" and announced that dynamic pricing would be examined in a government review 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 extensive delays, numerous attendees faced ticket costs significantly exceeding their original price.

Many took to social media to voice their frustration after tickets, originally priced at £148, surged to £355 on Ticketmaster shortly after going on sale, a result of the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy stated that in a forthcoming government consultation, they would examine issues including the technology that supports queuing systems and encourages their use.

She expressed disappointment, stating: "Following the thrilling announcement of Oasis's comeback, it's disheartening to witness the excessively high ticket prices that prevent 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 discussion on consumer protection measures for ticket resales, we plan to address concerns related to the transparency and application of dynamic pricing and the technology behind queuing systems that promote it."

"By collaborating with artists, the industry, and fans, we can develop a more equitable system that eliminates profiteering from ticket scalping and guarantees reasonably priced tickets."

What does dynamic pricing mean?

This pricing strategy, which fluctuates based on consumer demand, was rolled out by Ticketmaster in 2022

The measure was introduced to prevent scalping and to direct a greater portion of earnings towards the performers.

In essence, when ticket demand is high and availability 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 the pricing, and provided a link to a website explaining that the prices could either be "fixed or determined by the market".

On its official site, Ticketmaster defines its "Platinum" tickets as ones priced based on the principles of supply and demand.

The aim of the dynamic pricing system is to ensure that tickets are accessible and secure for fans, while allowing performers and event organizers to set prices that reflect the real market value of the tickets.

The firm states that it is the artists, their representatives, 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 was affected by surge pricing last Saturday, ultimately paying over twice the initial price quoted for a ticket to see Oasis perform.

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

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

"We believe additional safeguards are necessary for consumers, so it's encouraging that the government is looking 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's reunion was made official last Tuesday by Noel and Liam Gallagher.

Dynamic pricing is widely adopted in various sectors, not just in music, but also extensively in the travel sector, particularly for pricing hotel accommodations and flight tickets.

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

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

Attempts have been made to reach out to Ticketmaster for a statement

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