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

Sky-high Oasis reunion tour ticket costs deemed 'disheartening' as officials vow to examine fluctuating pricing strategies

"Time to reflect with frustration," expressed an Oasis enthusiast on social media, voicing discontent over the ticketing process for the eagerly awaited comeback tour.

Monday, September 2, 2024, 12:

The government has committed to investigating the practice of dynamic ticket pricing following a significant increase in ticket prices for the Oasis reunion tour during the sales period.

Culture Secretary Lisa Nandy labeled the high pricing of Oasis concert tickets as "depressing," announcing that surge pricing will be considered in a governmental examination of the secondary market for concert ticket sales.

On Saturday, enthusiasts of the globally renowned music group spent hours in digital lines, eager to secure tickets for next year's highly anticipated reunion concerts.

After enduring long lines and extended delays, numerous individuals were confronted with ticket costs significantly exceeding their original price.

Outrage spread across social media platforms when tickets initially priced at £148 surged to £355 on Ticketmaster shortly after going on sale, a spike attributed to the platform's dynamic pricing strategies.

Over the weekend, Ms. Nandy declared that in an approaching government consultation, they would examine issues including the technology used in queuing systems that encourage such practices.

She expressed disappointment, stating, "Following the exciting 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 re-centering fans as the core focus of the music industry."

"In our upcoming consultation on consumer protections for ticket resales, we plan to address concerns related to the transparency and application of dynamic pricing, as well as the technology supporting queuing systems that encourage its use."

"By collaborating with artists, the industry, and audiences, we can develop a more equitable system that eliminates the problems of scalpers and overpriced resales, guaranteeing fairly priced tickets."

What does dynamic pricing mean?

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

The measure was implemented to thwart scalpers and to increase the financial returns for the artists.

Fundamentally, when ticket demand is high and availability is low, prices tend to increase.

In response to frustration about the cost of Oasis 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 set or fluctuate based on the market.

On its official site, Ticketmaster characterizes its "Platinum" tickets as ones priced based on fluctuations in supply and demand.

The aim of the dynamic pricing system is to ensure that fans have equitable and secure opportunities to purchase tickets, while also allowing artists and event organizers to set ticket prices that reflect their actual market value.

The firm asserts that it is the artists, their representatives, and event organizers who determine the prices and decide if dynamic pricing will apply to their events.

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Cabinet member Lucy Powell was affected by fluctuating ticket prices last Saturday, ultimately paying over twice the initially stated price for a ticket to an Oasis concert.

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

A representative stated, "It's important to us that fans receive equitable treatment when purchasing tickets from secondary markets, and we have already intervened with significant resale platforms to make sure they comply with consumer protection laws."

"We believe additional safeguards are necessary 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 supporters and businesses that play by the rules."

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

Dynamic pricing is also widely used in sectors other than music, notably in the travel industry for hotel accommodations and airfare.

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

He explained to Stereogum that he wishes for artists to have the option to exit the system and set their own prices for their work.

Efforts have been made to obtain a statement from Ticketmaster.

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