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

Sky-high prices for Oasis concert tickets prompt dismay; officials vow to examine fluctuating pricing strategies

"Time to revisit our frustrations," commented an Oasis enthusiast on social media, expressing dissatisfaction with 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 surge in prices for the Oasis reunion tour, where tickets saw a significant increase in cost during the sales period.

Culture Secretary Lisa Nandy labeled the high pricing of Oasis tickets as "depressing" and announced that surge pricing will be part of a government examination of the secondary concert ticket market.

On Saturday, enthusiasts of the globally renowned music group spent hours in online lines, eagerly attempting to secure tickets for one of next year's highly anticipated comeback concerts.

After enduring long lines and significant delays, numerous attendees were confronted with ticket costs that greatly exceeded their original prices.

Outrage spread across social media when tickets originally priced at £148 were listed on Ticketmaster for £355 just hours after being released, a result of the dynamic pricing strategies employed.

Over the weekend, Ms. Nandy stated that the government plans to examine issues 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 that prevent everyday fans from experiencing their beloved band in concert."

"This administration is dedicated to recentering fans as the core of the music experience."

"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 technologies that support queuing systems which encourage this practice."

"By collaborating with artists, the industry, and supporters, 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 approach, which adjusts prices based on demand, was launched by Ticketmaster in 2022.

The policy was implemented to prevent scalping and to increase the earnings of the artists.

When there's high demand and a limited number of tickets available, prices tend to increase.

Facing backlash regarding the cost of Oasis tickets, the company clarified that they do not determine ticket pricing and provided a link to a website explaining that prices can be "set or driven by the market."

According to its official site, Ticketmaster explains that its "Platinum" tickets are priced based on the principles of supply and demand.

The text states that the purpose of the dynamic pricing system is to provide fans with equitable and secure opportunities to purchase tickets, while also allowing artists and event organizers to set ticket prices that more accurately reflect their market value.

The firm states that it is the artists, along with their management and concert 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 this past 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 reasonable treatment when purchasing tickets through secondary markets, and we have taken steps to enforce consumer laws on prominent resale platforms."

"We believe that additional safeguards should be implemented 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 the most favorable results for supporters and businesses that play by the rules."

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The announcement followed after Noel and Liam Gallagher revealed last Tuesday that the band is set to reunite after a long hiatus.

Dynamic pricing extends beyond the music industry, often applied in the travel sector 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 his aim was for artists to have the option to withdraw from the system and set their own prices for their work.

Attempts have been made to reach Ticketmaster for a statement.

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