Government to Review Dynamic Pricing After Oasis Ticket Outrage: Fans and Officials Call for Fairer Sales Practices

Sky-high Oasis concert ticket costs are 'disheartening,' with the government vowing to reassess fluctuating pricing strategies

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

Monday, September 2, 2024, 12:

The authorities have committed to investigating 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 labeled the high pricing of Oasis concert tickets as "depressing," and mentioned that surge pricing will be considered in a government assessment of the secondary market for event ticket sales.

On Saturday, devotees of the globally renowned music group spent hours in online lines, eager to secure tickets for the upcoming reunion concerts next year.

After enduring both lines and long delays, numerous individuals found that the cost of tickets was significantly above the original price.

Many voiced their frustration online after tickets, originally priced at £148, surged to £355 on Ticketmaster shortly after going on sale, a result of the dynamic pricing strategies employed.

During her weekend address, Ms. Nandy declared that the upcoming government consultation would examine these problems, including the technology behind queuing systems that encourage such behavior.

She expressed her disappointment, stating: "With Oasis making an unexpected comeback, it's disheartening to witness the exorbitant 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 cover topics related to the transparency of dynamic pricing and the technology behind queue systems that encourage its use."

"By collaborating with artists, the industry, and fans, we can establish a more equitable system that eradicates the problems of scalpers and exploitative reselling, guaranteeing fairly priced tickets."

What does dynamic pricing mean?

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

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

Basically, when many people want tickets and there aren't many available, the prices tend to increase.

In response to the backlash regarding the cost of Oasis's tickets, the company clarified that they do not determine the 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 priced based on the principles of supply and demand.

The purpose of the dynamic pricing system, it mentions, is to ensure that fans can purchase tickets fairly and securely, while also allowing artists and event organizers to set prices that more accurately reflect the market value of the tickets.

The firm asserts that it is the artists, along with their management and promoters, who determine the prices and decide on the use of dynamic pricing for their events.

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Cabinet member Lucy Powell encountered surge pricing this past Saturday, ultimately paying over twice the initially stated price for a ticket to an Oasis concert.

The Competition and Markets Authority (CMA) has expressed support for the government's recent decision to initiate a review.

A representative stated: "Our goal is for fans to receive equitable treatment when purchasing tickets from secondary platforms. We have initiated measures against prominent ticket resale sites to make sure they comply with consumer protection laws."

"We believe that additional safeguards for consumers are essential, and it's encouraging that the government is willing to tackle this issue. We are eager to collaborate with them to achieve favorable results for both enthusiasts and honest businesses."

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

Dynamic pricing is widely adopted in various sectors, not just music, and is particularly prevalent in the travel industry, including for hotels and flights.

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

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

Ticketmaster has been contacted for a statement.

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