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

Sky-high Oasis concert tickets leave fans disheartened; government to examine fluctuating pricing strategies

"Time to revisit our frustration," commented an Oasis enthusiast on social media, expressing dismay over the ticketing process for the much-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 the prices of tickets for the Oasis reunion tour during the sales period.

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

On Saturday, enthusiasts of the globally popular 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 extensive delays, numerous individuals were confronted with ticket costs significantly exceeding their original price.

Many voiced their frustration online after noticing that tickets initially priced at £148 were being listed for £355 on Ticketmaster shortly after going on sale, a hike attributed to the platform’s dynamic pricing strategies.

Over the weekend, Ms. Nandy stated that the government plans to review problems related to queuing systems and the technology that promotes them in a forthcoming consultation.

She expressed disappointment, stating, "Following the exciting announcement of Oasis's comeback, it's disheartening to witness the exorbitant ticket prices that prevent average 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 protection measures for ticket resales, we plan to address concerns related to the transparency and application of dynamic pricing, as well as the technologies supporting queuing mechanisms that promote this pricing strategy."

"By collaborating with artists, the industry, and concertgoers, we aim to develop a more equitable model that eradicates issues like scalping and overpriced ticket resales, ensuring that tickets are sold at reasonable prices."

What does dynamic pricing mean?

This system, which adjusts prices based on demand, was launched by Ticketmaster in 2022.

The measure was introduced to prevent scalping and to direct more profits towards the performers.

When ticket demand is high and supply is limited, prices tend to increase.

In response to frustration regarding the cost of Oasis concert tickets, the company clarified that they do not determine ticket prices and provided a link to a website explaining that prices may be "set or fluctuate based on the market."

According to its official website, Ticketmaster defines its "Platinum" tickets as those priced based on the fluctuations of supply and demand.

The purpose of the dynamic pricing system is described as providing fans with a reliable and equitable opportunity to purchase tickets, while also allowing artists and event organizers to set ticket prices that more accurately reflect their market worth.

The firm asserts that it is the artists, along with their management teams and event promoters, who determine the ticket prices and decide if dynamic pricing will be applied to their events.

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Cabinet member Lucy Powell found herself affected by surge pricing last 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: "Our goal is for fans to receive equitable treatment when purchasing tickets through secondary markets, and we have initiated measures against prominent resale platforms to enforce compliance with consumer protection laws.

"We believe additional safeguards are necessary for consumers, and it's encouraging that the government is taking steps 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 news followed Noel and Liam Gallagher announcing last Tuesday that the band would finally be getting back together.

Dynamic pricing is widely employed across various sectors, notably in the travel industry, where it is commonly applied to hotel accommodations and airfare.

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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 envisioned a system where artists could choose not to participate and set their own prices for their work.

Efforts have been made to reach Ticketmaster for a statement.

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