Politics
Government to Review Dynamic Pricing After Oasis Ticket Outrage: Fans and Officials Call for Fairer Access to Live Music
Sky-high Oasis concert ticket costs labeled 'disheartening' – officials pledge to reexamine fluctuating pricing models
"Time to reflect on our frustration," expressed a fan of Oasis on social media, voicing disappointment 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 a significant increase in the prices of tickets for the Oasis reunion tour, which more than doubled during the sale period.
Culture Secretary Lisa Nandy labeled the high pricing of Oasis concert tickets as "depressing," announcing that such surge pricing would be examined in a government assessment of the secondary market for event tickets.
On Saturday, enthusiasts of the globally renowned musical group spent hours in online lines, eager to secure tickets for next year's highly anticipated reunion concerts.
After enduring the long lines and significant delays, numerous attendees were confronted with ticket costs substantially exceeding the original price.
Many voiced their frustration on social platforms, noting that tickets originally priced at £148 were being resold for £355 on Ticketmaster shortly after going on sale, a result of the dynamic pricing models used.
Over the weekend, Ms. Nandy declared that the government will explore concerns including the technology behind queuing systems that encourage it in a forthcoming consultation.
She expressed disappointment, stating, "Following the thrilling announcement of Oasis's comeback, 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 recentering fans at the core of the music experience."
"In our upcoming discussion on consumer protections for ticket resales, we will address concerns related to the transparency and application of dynamic pricing, as well as the technology supporting queue systems that encourage this practice."
"By collaborating with artists, the industry, and supporters, we can develop a more equitable system that eradicates the problems of scalpers and overpriced resales, guaranteeing fairly priced tickets."
What exactly is dynamic pricing?
Introduced by Ticketmaster in 2022, this system adjusts prices based on demand.
The measure was implemented to prevent scalping and to increase the revenue that artists receive.
Basically, when many people want tickets and there aren't many available, the prices tend to increase.
In response to the uproar concerning the cost of Oasis's tickets, the company clarified that they do not determine ticket pricing and provided a link to a website explaining that prices may be "set or fluctuate based on the market."
On its official site, Ticketmaster defines its "Platinum" tickets as those priced based on the principles of supply and demand.
The dynamic pricing system aims to ensure that fans can purchase tickets fairly and securely, while allowing artists and event organizers to set prices that more accurately reflect the market value of the tickets.
The company states that it is the artists, their management, and event organizers who determine the prices and decide if dynamic pricing will be implemented for their events.
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Cabinet member Lucy Powell was affected by surge pricing last Saturday, ultimately paying over twice the initially stated price for a ticket to see Oasis in concert.
The Competition and Markets Authority (CMA) has expressed support for the government's announcement of a review.
A representative stated, "It's important to us that fans experience fair pricing when purchasing tickets through secondary platforms, and we have initiated measures against prominent reselling sites to uphold consumer protection laws."
"We believe additional safeguards should be implemented for consumers, 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 both fans and businesses that play by the rules."
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The news followed an announcement last Tuesday by Noel and Liam Gallagher that the band would be reuniting after a long hiatus.
Dynamic pricing is widely adopted in sectors other than music, especially prevalent in the travel sector for items like hotel accommodations and flight tickets.
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Jack Antonoff, a regular collaborator of Taylor Swift, has previously expressed concerns regarding dynamic pricing.
He explained to Stereogum that he believed artists should have the option to exit the system and set their own prices for sales.
Ticketmaster has been contacted for a response.
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